IS THE BIR TELLING YOU NOTHING BUT THE HALF TRUTH????
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From the letter of the BIR Chief Kim Henares to EmelinoTMaestro, it can be read and understood that she allowed you to use the generally accepted accounting principles or the Philippine Financial Reporting Standards in preparing your financial statements but for taxation purposes, the same principles and standards can't be used because she admitted that you need to reconcile them to the tax accounting rules. And, in the case of disparity, the TAX ACCOUNTING RULES shall prevail over them. THIS IS SO CUMBERSOME for you because you should be so competent not only to the said principles and standards but most tiring, to the tax accounting rules. THINK ABOUT THE HARDSHIP in reconciling the tax accounting rules to the financial accounting and vice versa, Not only it will eat much of your time and effort but most importantly, it is so costly and unnecessary.
MY EXPERIENCE WITH A SUCCESSFUL AUDITING FIRM
Emelino T Maestro was asked to handle a deficiency tax assessment amounting to 167,000,000,000 pesos. Before he successfully zeroed out the said assessment, it was being handled by a very successful auditing firm who charged 200,000 pesos a day but failed to make a dent thereto for the past two years of its engagement. After the said client learned the true legal ways of handling its case (for ETM had shown it the true and correct ways of dealing with the BIR officials), it never received, up to this moment, a single eLetter of Authority.
An average bribe money nowadays is so astronomically alarming and it ranges from 350,000 pesos to 300,000,000 pesos. As a reminder, before you hand it over to someone else, please hear the success stories of depriving a BIR official from harassing and oppressing you in order for you to succumb to his ill-mannered intention.
Another story is that ETM was engaged by a tax consultant as a shadow consultant. In other words, ETM will remain unknown to his client but shared with his fruits. Before this consultant was hired, the assigned revenue officers did not waste a day in calling annoyingly the top management as if their work is being delayed by such top brasses. But, after the said consultant entered into the picture and all the previously hired auditing firm and law firm exited the picture, the same revenue officers disappeared and didn't bother anymore the said corporate officials. Literally, the cases were abandoned.. On the third year of dormancy, his client engaged a very known and powerful law firm to handle the same case. Radical, isn't it? The cases are not moving (stalemate) but it wanted such cases to resurface again (Nami-miss na siguro ang sakit ng ulo at bulsa)..The suggestion of this law firm is to bring these cases to the Court of Tax Appeals... Wow! ETM will never suggest it, too expensive and the final decision of the CTA forms part of the law of this Republic. If you want to really, really know the secrets of this law firm and other auditing firms. please attend the FREE TAX TRAINING EVENTS OF ETM.
IMPORTANT: If you want to market this event, please do so. You will receive a 5k commission for each attendee who paid and attended it. To avoid other to claim your commission, please email the name, mobile and email address of your potential attendees as often as it is convenient to you because the basis of releasing the said commission is to the first person who emailed the said information to go@taxaccountingguru.com.
OTHER INCENTIVE: If you reached the required attendees, you are entitled to a 5-day, 4-night stay at Marriot Hotel, Osaka Japan, 3 CebuPac-tickets (Manila-Osaka-Manila) and 60,000 yen pocket money. (Get your passport and Japan's Visa now)
ETM Tax Agent Office
Unit 419 Corporate 101
Mother Ignacia, Quezon City
0998 979 3922/0922 801 0922
"Because Ignorance is the Most Expensive Lifestyle” For the record, we don't bribe. You too must experience the feeling of honesty.
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