FFCCCII welcomes LOA reformsMANILA, Philippines — The Federation of Filipino-Chinese Chambers of Commerce and Industry Inc. (FFCCCII) expressed support for Finance Secretary Frederick Go’s initiative to introduce reforms to curtail the misuse of letters of authority (LOAs) and related audit instruments of the Bureau of Internal Revenue (BIR), noting the move sends a positive signal to investors. In a statement, the FFCCCII welcomed the move, noting that it strengthens the foundations of a just and professional tax administration. Go earlier said that the government is looking at reforms, including limiting the number of BIR offices authorized to issue LOAs. For the FFCCCII, Go’s initiative directly addresses these concerns and ensures that state power is exercised with accountability and restraint. The FFCCCII said the reforms also demonstrate the Philippines’ commitment to promote a rules-based, predictable and fair business environment by protecting investors from arbitrary administrative actions.

Source: Philippine Star December 30, 2025 16:46 UTC