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Business in PI

Discussion in 'General Chit Chat' started by Anon04576, Jan 8, 2014.

  1. alfie
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    alfie Active Member

    So...what is your family business?
    I have a few filipino-chinese friends that make millions of pesos every month and they do not cough up millions to the BIR every year.

    You need to change your bookkeeper and accountant.
  2. blue_acid
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    blue_acid Member Trusted Member

    In our industry, it's pretty much the norm. We're not a big corporation, just >25 employees.

    How it is, the BIR initially wanted 6.5M for our 2011 sales then it was negotiated down to 4.5M then 1.5M then 1M and currently, it is at 750k.

    We already submitted out books last January and took them 11 months to finish their investigation because they are really trying hard to find mistakes. They really wont admit it that there wasn't anything wrong or they will really look for ways to find fault.
  3. Methersgate
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    Methersgate Well-Known Member Lifetime Member

    You may be amused to know that my employers in the UK were faced with a tax demand for £102M, we are currently down to around £30M and so far as we are concerned we have a provision in the accounts (which HMRC can of course see!) for disputed taxes of £2M. We have been arguing since 2009...
  4. Anon04576
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    Anon04576 Well-Known Member

    Maybe your company should get the accountants from Amazon in :)

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