5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
  • Top News
  • Economy
  • Forex
  • Investing
  • Stock
  • Editor’s Pick
No Result
View All Result
5G Investment News
No Result
View All Result
Home Stock

PCCI backs suspension of BIR field audits

by
November 25, 2025
in Stock
0
PCCI backs suspension of BIR field audits

THE suspension of all Bureau of Internal Revenue (BIR) field audits will provide immediate relief to businesses and allow them to focus their attention on other priorities, a business chamber said on Tuesday.

The Philippine Chamber of Commerce and Industry (PCCI) said that the Department of Finance’s intervention provides “crucial and immediate relief” to businesses, especially micro, small and medium enterprises.

In particular, the PCCI said that the suspension gives businesses “much-needed operational breathing room to better focus on year-end priorities such as strategic planning, inventory management, and holiday season sales without the added pressure of a BIR audit.”

Revenue Memorandum Circular 107-2025 ordered the suspension of all field audits and related operations.

PCCI also welcomed the establishment of the technical working group (TWG) reviewing and updating the BIR’s policy frameworks related to the issuance of letters of authority (LoA).

“The creation of the TWG to conduct a comprehensive review signals a concrete and meaningful step toward addressing long-standing concerns about clarity, consistency, and proper oversight in audit processes,” it said.

“The PCCI sees this as an important opportunity to improve guidelines, strengthen internal controls, and ensure that the audit system fully aligns with established rules and the principles of due process,” it added.

Meanwhile, Philippine Retailers Association Chairman Roberto S. Claudio said that the suspension is a welcome development.

“This is welcome news not only to retailers but to all businessmen who have suffered from unfair practices of the BIR,” he said via Viber.

He said the DoF now needs “to define BIR’s authority and systems to audit without harassing taxpayers.”

Semiconductor and Electronics Industries in the Philippines Foundation, Inc. President Danilo C. Lachica noted that these audits have been discouraging businesses from availing of incentives.

“There are a lot of incentives like training, research and development, and investments. But unfortunately, within our members, no one is applying. Why? Because before reimbursement, there will be audits,” he said. — Justine Irish D. Tabile

Previous Post

DENR, UNICEF call for child-focused climate change action

Next Post

PhilRice launches AI-powered agricultural information chatbot

Next Post
PhilRice launches AI-powered agricultural information chatbot

PhilRice launches AI-powered agricultural information chatbot

Enter Your Information Below To Receive Free Trading Ideas, Latest News And Articles.







    Fill Out & Get More Relevant News





    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.
    Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

    Recommended

    UK borrowing hits second-highest level on record despite tax take surge

    UK borrowing hits second-highest level on record despite tax take surge

    December 19, 2025
    Apprentice winner Tom Pellereau buys out Lord Sugar to regain full control of Styl Pro

    Apprentice winner Tom Pellereau buys out Lord Sugar to regain full control of Styl Pro

    December 19, 2025
    Huawei MatePad 12 X (2026): A practical look at the 4-in-1 all-round productivity tablet

    Huawei MatePad 12 X (2026): A practical look at the 4-in-1 all-round productivity tablet

    December 19, 2025
    UK appoints career diplomat Christian Turner as new ambassador to Washington

    UK appoints career diplomat Christian Turner as new ambassador to Washington

    December 19, 2025

    Disclaimer: 5GInvestmentNews.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice.
    The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2024 5GInvestmentNews. All Rights Reserved.

    No Result
    View All Result
    • Home
    • Privacy Policy
    • suspicious engagement
    • Terms & Conditions
    • Thank you

    © 2025 JNews - Premium WordPress news & magazine theme by Jegtheme.