BIR loses P17M tax case due to sloppy audit 85 SHARES Share it! Share TweetBy Jun RamirezThe Court of Tax Appeals (CTA) has voided the more than P17 million deficiency tax assessment imposed by the Bureau of Internal Revenue (BIR) against an advertising agency due to incorrect audit procedure. Under the revenue regulations, LN is just a reminder that a taxpayer has outstanding tax debts based on third party information obtain from his clients. It also said that BIR had lost its power to collect the taxes as the three-year prescriptive period had already expired as mandated under Section203 of the Tax Code. It noted that the BIR has been losing many cases in the court not because of “syndicated corruption but due to ineptitude in making the assessment against taxpayers.

Source: Manila Bulletin September 12, 2018 12:11 UTC