SGV Cebu conducts seminar on BIR audit and expenditures taxation

SGV Cebu held a seminar last month on recent developments in BIR tax audits and enforcement activities, and how taxpayers could respond to these. The seminar also aimed to enhance participants’ understanding of taxes affecting their company’s local purchasing process.

Tax Senior Director, Atty. Thyrza F. Marbas, CPA, spoke on different approaches and updates about the BIR audit process. Associate Directors Iris Dawn O. Pepito and Mary Grace N. Cabalida discussed common issues involved in the local accounts payable process including updates, the computation of Expanded Withholding Taxes (EWT), Input VAT, Income Tax Deductions, as well as the substantiation and administrative requirements for each. Questions were entertained after each session.

Over 70 accounting and tax practitioners from the Visayas and Mindanao areas attended the two-day seminar. The event was organized by the Business Tax Services (BTS) and Global Compliance & Reporting (GCR) teams of SGV Cebu – Tax.