如何避免您的企业税务问题? 菲律宾的税务律师教你如何

“Entrepreneurship is the easiest thing in the world,” no one said.

We all know that there are too many things to deal with when starting a business or even after starting a business. Most of the time, a lot of money is involved in this venture, so making mistakes can mean serious consequences, usually including economic losses, or worse, may cause the business itself to fail. Having said that, every detail cannot be ignored, such as business registration, tax documents, permits, contracts, etc.

Of all the mistakes new business owners tend to make, proper taxation and registration are the most common mistakes. Obviously, these errors have caused great losses to a company, making the tax audit process one of the most annoying processes for business owners. Regardless of whether the businessmen abide by the law or pay taxes carefully, receiving a letter from the Internal Revenue Service (BIR) will still immediately bring them panic and fear. Taxation is not a simple obligation. It is not easy to determine whether you did it the right way, unless of course you have a professional (such as a tax lawyer) taking care of your affairs.

When BIR wants to take a closer look at business operations involving your taxes, BIR will request a tax audit. No, this does not necessarily mean that you (or your business) have not complied with the law or have violated the law, it is just that BIR just does what it should do: make sure that the correct tax amount is returned to the government. There is nothing wrong with asking for tax audits over and over again, but it is either correct or worrying about the process every time. Due to lack of knowledge, misinformation and/or lack of assurance, some of our worries are easily avoided, and only you have the right people to educate you.

Tax lawyers are the answer! Yes, it sounds very commercial, but to be honest, these professionals are answering your business tax problems caused by sleepless nights, anxiety, and stress. Of course, accountants are also very helpful, but they cannot help you with your tax case alone. If you mess up, you may file a tax lawsuit against your company. So, if you doubt whether you need to hire one, let me elaborate on what these tax lawyers can help you do.

  1. They can help you prepare for tax audits and can represent you in court if necessary. When the results of your declaration are a bit abnormal, or when BIR finds that your report has problems, a tax audit will occur, so it seems necessary to conduct an audit. We all agree that prevention is always better than cure. In this case, prevention is very necessary. A reliable accounting team and tax lawyers work together to ensure that your reports are accurate and to prevent suspicious reports. However, if an audit is still required, BIR may evaluate your financial reports, such as income statements, bank accounts, credit records, receipts, and expenses, to assess the legality and authenticity of the information provided by your company. Tax lawyers can and will insure you during this time, even if the situation gets worse, such as accepting a lawsuit.
  2. A tax lawyer can save you money. Yes, you read it right. Tax lawyers can actually save you thousands of dollars in different ways. Let me give some examples. Example 1. Assuming you are planning to buy and/or sell a business, a tax lawyer can help by providing legal and reliable advice on certain topics (such as capital gains and devaluation) so that you can minimize your tax liability . Another example is when you start a business; when you start a business, you are starting a business. These lawyers can help you choose the type of entity and determine the possible tax consequences. Example 3 is that if you own (or consider owning) a business, you will leave the country; a tax lawyer can notify you of any exemptions, which can then help you avoid paying any additional taxes. The legal way all these methods are used to minimize your taxes is called tax avoidance. Tax avoidance is the use of constitutional methods to adjust the financial status of individuals or enterprises/companies to reduce the amount of income tax they should pay. This can be taken care of by a skilled tax lawyer, because announcing the allowed deductions and credits can only do this.
  3. They can help you avoid tax evasion cases. This case is very popular in China, because many celebrities (actors, actresses, businessmen, etc.) have been prosecuted for this case. Tax evasion is an illegal act by an individual or organization to deliberately evade paying their true tax obligations, such as illegal non-payment of taxes and illegal underpayment of taxes. The thin line between tax evasion and tax avoidance is that one is legal and the other is not. Tax lawyers can avoid these illegal activities and will defend you in court if they have t.

It is important to know that finding a tax lawyer in the Philippines is not a difficult task, and hiring one will be a very important business. A tax lawyer is an asset, not a liability. This is a must if you take your business seriously.

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