Taxwise or Otherwise

Know the latest developments in tax and business law in the Philippines as we dissect current issues affecting the business community, including policy development.

Writers are taken from a pool of business and tax consultants of our firm. These columns regularly appear in the BusinessWorld newspaper.

 

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A peek at the next five years for Philippine transfer pricing

19 May 2016

With the determination to fulfill its mandate even in the midst of challenges, the Bureau of Internal Revenue (BIR) has come up with a strategic plan that is designed to help the organization achieve its vision to be an institution of service excellence and integrity. This strategic plan will serve as the BIR’s roadmap for the next five years (i.e., 2016-2020) and aims to achieve seven high-level strategic objectives, namely: attain collection targets and sustain collection growth; improve taxpayer satisfaction and compliance; strengthen good governance; improve assistance and enforcement; build and deploy information technology systems, processes and tools; improve integrity, competence, professionalism and satisfaction of human resources; and optimize management resources. These seven overarching objectives shall support the BIR’s goal of improving services to taxpayers to increase voluntary compliance and of enforcing the laws for those who do not comply.