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BIR subpoena should not be ignored. Read its contents carefully and consult an ETM or TaxSpecialista if you have any doubts or mistakes in your tax bookkeeping, accounting entries, or proper documentation supporting your expenses. A BIR subpoena is a legal document that requires the recipient to produce the specified information or documents to the BIR by a certain date. If you receive a BIR subpoena, it is important to read it carefully and to comply with its requirements. Failure to comply with a BIR subpoena can result in a number of negative consequences, including: Criminal prosecution for violation of Section 266 of the National Internal Revenue Code of 1997, as amended (Tax Code);
Assessment of additional taxes, penalties, and interest; and
Issuance of a warrant of distraint, which allows the BIR to seize your property to satisfy your tax liability.
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ð€Basic Answers to Common Questions
Q: What should I do if I receive a BIR Letter of Authority?
A: You should cooperate with the BIR revenue officers who will be conducting the audit or investigation. Provide them with all the requested documents and information. You may also want to consult with a tax advisor to help you with the process.
Q: What happens if I disagree with a deficiency assessment?
A: You have 30 days from the date you receive the deficiency assessment to file a protest with the BIR. The protest must be in writing and must state the reasons why you disagree with the assessment.
If the BIR does not approve your protest, you may file a petition with the Court of Tax Appeals.
Q: Can I pay a deficiency assessment in installments?
A: Yes, you may be able to pay a deficiency assessment in installments. However, you must request this from the BIR and the BIR must approve your request.
Other Common Questions
Q: What are the common grounds for deficiency assessments?
A: The common grounds for deficiency assessments include:
Failure to file a tax return
Filing an incorrect tax return
Failure to pay taxes on time
Underreporting of income
Overstating deductions
How to respond to a BIR subpoena duces tecum
Can I refuse to comply with a BIR subpoena duces tecum?
What happens if I don't comply with a BIR subpoena duces tecum?
Can I challenge a BIR subpoena duces tecum?
BIR subpoena duces tecum definition, requirements, process, sample, deadline, penalties. and for bank records, tax documents, business records, personal records, electronic records, foreign records, third-party records, legal counsel, or tax audit and investigation
