By: Tax and Accounting Center Philippines
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 4-2013 dated 8 March 2013 (RMO No. 4-2013) and entitled “Audit of Tax Returns by Revenue District Offices” with the following objectives:
Professionals and sole proprietorship’s
Those engaged in the following industries
Those who fall below the established benchmarks of tax compliance
Taxpayers with ending inventory of of 100% or more of sales.
Finally, those who maintained an ending inventory with value of 100% or more of its gross sales is likewise under priority for tax audit by the Revenue District offices.
Disclaimer: This article is for general conceptual guidance only and is not a substitute for an expert opinion. Please consult your preferred tax and/or legal consultant for the specific details applicable to your circumstances. For comments, you may please send mail at firstname.lastname@example.org.
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