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Lawful options and solutions for buyers of ghost receipts and fake transactions for tax purposes

0 Views· 11/26/23
Aryel Narvasa
Aryel Narvasa
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🤍In a recent development in the fight against tax evasion in the Philippines, Bureau of Internal Revenue Commissioner Romeo D. Lumagui, Jr. has taken decisive action to address a pressing issue. His message was clear and direct as he warned the passers of the May 2023 Licensure for Certified Public Accountants about the dangers of using Fake/Ghost Receipts in their professional practice.

This stern warning follows Commissioner Lumagui's proactive steps, including filing a criminal case for tax evasion with the Department of Justice and initiating a revocation of license process with the Professional Regulation Commission against a CPA involved in the Fake/Ghost Receipts syndicate. Notably, the same CPA also had her accreditation with the BIR revoked due to her involvement in the syndicate.

In the midst of these actions, Commissioner Lumagui didn't forget to congratulate the new CPAs and emphasize the importance of ethical standards in their profession. However, the message was clear - those involved in the Fake/Ghost Receipts syndicate are facing legal consequences.

To combat the decades-long practice of taxpayers purchasing fake receipts to evade taxes, Commissioner Lumagui established the National Task Force - Run After Fake Transactions (RAFT). This task force has been relentless in pursuing sellers and CPAs involved in such illicit activities, and buyers are now being called to account for their transactions with these sellers. Failure to provide explanations could lead to deficiency taxes and criminal charges for tax evasion.

The Commissioner's message is straightforward: buyers of Fake/Ghost Receipts must clarify their transactions with syndicate sellers, with all concerns directed to the BIR. Failure to cooperate will result in criminal cases against corporate officers and the payment of deficiency taxes. Commissioner Lumagui's commitment to this cause is unwavering, as he launches the RAFT program and extends the battle to all fronts: buyers, sellers, and CPAs.

This ongoing campaign is a priority program under Revenue Memorandum Circular 38-2023, and Commissioner Lumagui encourages all involved to come forward, cooperate, and join in nation-building. The fight against Fake/Ghost Receipts is now in full swing, and the Commissioner's message is resolute - illegal activities of this nature will not be tolerated, and the Bureau will continue to pursue justice until the practice is eradicated.

In addition to the crucial information regarding the fight against Fake/Ghost Receipts, I'm thrilled to announce an upcoming event that you won't want to miss. On October 27th, we will be hosting a special lunch event where we will delve deep into the options and solutions pertaining to BIR LoA (Letter of Authority) for the Run After Fake Transactions (RAFT) program.

This event promises to be an invaluable opportunity for professionals and taxpayers alike to gain insights and clarity on this vital topic. We will have experts on hand to provide guidance and address your questions and concerns.

To ensure your spot at this informative and engaging event, we kindly invite you to email us at taxspecialista@kataxpayer.com. By securing your place, you'll have the chance to participate in a meaningful discussion and contribute to the fight against tax evasion in the Philippines.

Don't miss out on this opportunity to be part of the solution and stay informed about the latest developments in tax enforcement. Join us on October 27th for a productive and enlightening lunch event. We look forward to your participation and active engagement in this important cause.

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