The Philippine Tax Whiz Mon Abrea led a tax reform seminar for ARIVA Academy on Wednesday, November 7. The event was held at the AIM Conference Center, Makati City from 8 AM to 5 PM.
The main focus of the discussion was the Tax Reform for Attracting Better and High-quality Opportunities (TRABAHO) bill. As the second package of the Comprehensive Tax Reform Program, it seeks to lower the corporate income tax and rationalize incentives.
Already, the Philippines has the highest corporate income tax rates among ASEAN member states.
Mon Abrea, the founding President of Asian Consulting Group, discussed the current situation of the Philippine tax system. He also noted the administrative changes necessary to make the tax reform work.
While the seminar focused on TRABAHO Bill, he also discussed the other packages of the tax reform, such as TRAIN Law.
One of the Asian Consulting Group’s tax experts, Allen Gautier, talked in-depth about the first package of the tax reform. His discussion also covered the various regulations issued by the Bureau of Internal Revenue to implement TRAIN Law.
Earlier in the year, the Philippine Tax Whiz has also conducted a seminar on TRAIN Law for ARIVA Academy.
As a prominent tax advocate, Abrea is often interviewed about the impact of TRAIN Law. The ongoing tax reform, according to the Philippine Tax Whiz, simply had bad timing. He has repeatedly called for the suspension of the excise tax on fuel, recognizing it as a factor to inflation.
The tax advocate has also proposed administrative changes that will broaden the taxpayer base. Among those proposals is making the BIR audit fairer. In the current system, examiners are auditing the same taxpayers over and over again.
One of the Asian Consulting Group’s services is helping taxpayers get rid of their BIR Audit the right way. To learn how you can do so as well, schedule an appointment here.
The Asian Consulting Group promotes tax education of all kinds – whether on basic compliance or on more complex situations such as the BIR audit. As the Philippines’ first Tax Hub, ACG conducts regular tax seminars.
To check the list of topics for tax seminars, visit here.