Cebu Chamber, PICPA to hold tax counselling sessions

By: Irene R. Sino Cruz June 09,2019 - 10:38 AM

CCCI president Virgilio Espeleta is urging chamber member companies to avail of the tax compliance coaching sessions to help them comply with complex tax regulations. /CDND FIle Photo

CEBU CITY, Philippines—Recognizing that tax management remains to be a challenge among businesses, the Cebu Chamber of Commerce and Industry (CCCI) is partnering with the Philippine Institute of Certified Public Accountants (PICPA) for the conduct of tax compliance seminars for chamber members.

An advisory issued by CCCI president Virgilio Espeleta explained the need for businesses to be guided on the “increasingly complex tax rules” amid the “more rigorous and coordinated enforcement by tax authorities.”

Espeleta said PICPA will conduct a series of Tax Tax Compliance Cliniquing Sessions, which will be launched during the Entrepreneurs’ Summit of the Cebu Business Month 2019, scheduled from June 12-14, 2019.

He added that PICPA will conduct free counseling during the summit, which will be held at the Waterfront Hotel and Casino Cebu City.

“The first round of the series of cliniquing session is an alignment and mind-setting among business owners followed by a diagnostic assessment conducted by PICPA’s members,” Espeleta said.

After the first round, weekly modular handholding coaching will be conducted for chief financial officers or accounting staff of the chamber member-companies starting July 2019.

The participants will be charged a nominal amount for the sessions during the coaching stage to cover administrative costs, Espeleta said.

Espeleta also cited the importance of coming up with a comprehensive tax compliance management program for member-companies.

Having such a program would reduce risk, increase efficiency, provide an organization with insights into their businesses, facilitate better strategic alignment, and enhance the organization’s brand, Espeleta pointed out.

“It is in this light that your Chamber enjoins you all to review your current tax systems and procedures so to ensure that your business is fully compliant through availment of this service that will surely make a difference in your businesses’ tax systems and procedures,” he added. /dcb

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