Bureau of Internal Revenue Commissioner Romeo D. Lumagui Jr. met with external stakeholders from associations of accountants and other representatives of accounting firms recently to discuss the proposed revenue issuances. Know more:
BUREAU of Internal Revenue Commissioner Romeo D. Lumagui Jr. met with external stakeholders from associations of accountants and other representatives of accounting firms recently to discuss the proposed revenue issuances pertaining to the reconciliation of tax laws/regulations and accounting standards.
Associations of accountants present at the meeting were Philippine Institute of Certified Public Accountants ; Government Association of Certified Public Accountants ; and Tax Management Association of the Philippines . Representatives from accounting firms, namely, JL2T Consulting; CRC-ACE Review School; and Punongbayan & Araullo were also present.
Recently, the BIR established and created the PFRS Project Management Team to oversee and identify the gaps between tax laws/regulation/reporting and the PFRS, and correspondingly recommend measures by drafting revenue issuances to address the identified gaps for standard implementation.
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