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P&A conducts training for BIR personnel

P&A conducts training for BIR personnel

Punongbayan & Araullo (P&A) partner for tax advisory Marivic Espano and P&A partner for audit and assurance Mai Sigue-Bisnar conducted a seminar for the revenue examiners of the Bureau of Internal Revenue (BIR) Region 7 (Quezon City) on the tax implications of the new international accounting standards.

With this added information, BIR personnel will be able to conduct their audit more effectively and avoid unduly assessing taxpayers for items such as unrealized or notional income recognized only as required in the accounting standards.

The seminar was sponsored by the Philippine Institute of Certified Public Accountants (PICPA). On hand to welcome the seminar speakers and participants were PICPA Eastern Metro Manila chapter director Victoria Martinez and BIR Region 7 director Merlinda Ordoyo.

(As published in BusinessWorld, December 15, 2006)