Engagement at Public Hearing: Draft Revenue Regulations for Small-Scale Agricultural Producers
On the 14th of August, 2023, Senior Tax Advisor Jowin Urriza and Junior Tax Associate Frances Ericka Bautista attended a public hearing for the draft revenue regulation aimed at small-scale agricultural producers. The event took place at the Bureau of Internal Revenue National Office Training Center and was inaugurated by the Bureau’s Officer In Charge – Deputy Commissioner Operations Group Maridur V. Rosario.
The presentation of the draft revenue regulation was conducted by Atty. Tobias Gavin Arcilla of the Legal Division, while various stakeholders, partners, and practitioners from the industry attended the public hearing. Among them were representatives from Alas Oplas & Co., CPAs, who participated in a highly productive discussion. They believe that the regulation will facilitate more effective tax collection by the government and ensure that farmers comply with the rules.
The Bureau of Internal Revenue is expected to release the regulation in September 2023, following a comprehensive review of the comments and feedback gathered during the hearing. Overall, the event provided an excellent platform for stakeholders to engage with each other and share their perspectives on the proposed revenue regulation.
Alas Oplas & Co., CPAs is an independent member of BKR International. As one of the top 10 global accounting associations, BKR International represents the combined strength of more than 150 independent accounting and business advisory firms in nearly 600 offices and over 80 countries.
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