Tax Partners speak at ACPAPP webinar
Tax Partners Deonah Marco-Go (DMG) and Margaux A. Advincula (MAA) facilitated a tax webinar for members of the Association of Certified Public Accountants in Public Practice (ACPAPP).
MAA kicked off the session with an in-depth discussion on what taxpayers can expect of audits conducted by the Bureau of Internal Revenue (BIR) in the new normal. She outlined the tax assessment process and explained its significant stages. She also discussed due-process requirements, assessment notices served on taxpayers, and issues raised with Letters of Authority and Assessment Notices issued by the BIR. MAA also explained tax audit-related topics, such as the rules on the issuance and enforcement of Subpoenas Duces Tecum, and key takeaways from the issuances published by the BIR in light of the COVID-19 pandemic.
Speakers and participants at the ACPAPP webinar
DMG discussed the latest tax updates and emphasized the recent BIR regulations and issuances such as RR 19-2020 which prescribes the use of the new BIR Form No. 1709. She also spoke on the provisions of RMO 21-2020 which provides the policies and guidelines for the inspection and supervision over the destruction and disposal of wastes, and obsolete goods and assets. She explained the salient provisions of each issuance, detailing its prescribed procedures — the BIR guidelines on the implementation of the forms to be used and the tasks described, and the penalties for violations of the provisions.
The session culminated with a lively question & answer period. The event brought together over 250 participants including SGV Assurance Partner and former Chairman Itos Cruz; Tax Partner Sonia Segovia; former Board of Accountancy Chair Joel Tan Torres; ACPAPP President Anita Rodriguez; and former ACPAPP Presidents Atty. Arminda Guerrero, Carlito Dimar, Jerome Antonio Constantino, and George Villaruz.