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(From BusinessWorld (Philippines))
Byline: Arnold P. Supilanas
Taxpayers that have adopted computerized accounting systems (CAS) should brace for high-tech BIR audits.
The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulations (RR) No. 16-2006, signalling more extensive utilization of computer technology in conducting audit and examination of the books and accounting records of taxpayers with CAS. The regulations will govern taxpayers' submission of books of accounts and other accounting records to the BIR in electronic format during examination.
Under the regulations, computerized accounting books/records required for …