Tax and Bureau of Internal Revenue (BIR) audit procedures change from time to time. Businesses need to stay current to understand the financial impact of these changes. For the year 2022, BIR is expected to generate P2.435 trillion which is 17% bigger than its P2.081- trillion collection goal for the current year and 24.9% higher compared with the P1.95-trillion it generated in 2020, expecting that the country's economy will continue to recover as quarantine restrictions ease — a likely scenario given that the Philippines' COVID-19 vaccination program is now going on.
This year, the European Chamber of Commerce of the Philippines (ECCP), in collaboration with SGV & Co. aims to disseminate information regarding tax and BIR audits update through a webinar entitled "Mindanao Talks: Updates on Tax and BIR Audit" on 24 February 2022 from 3:00PM to 4:30PM (GMT +8). In addition, this webinar aims to provide an outlook on tax and BIR Audit with the impact of it on the economy's growth.