Philippines Tax Audit Reform Wins Business Backing

Philippines tax audit reform is drawing support from business groups after the Federation of Filipino-Chinese Chambers of Commerce and Industry endorsed moves to tighten Bureau of Internal Revenue audit controls.

The Philippines tax audit reform includes limiting which BIR offices can issue Letters of Authority and building a central digital platform to verify their authenticity, following a November suspension of field audits.

FFCCCII president Victor Lim said the changes send a positive signal to investors, while exporters’ group head Sergio Ortiz-Luis urged fewer LoAs and an end to duplicate probes to improve confidence.