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Posts Tagged ‘tax issuances’

BIR’s new abatement program

Posted by lexforiphilippines on September 23, 2010

The Bureau of Internal Revenue has issued Revenue Regulations No. 9-2010 last September 13, 2010 providing for the policies and guidelines on the abatement of surcharges and/or compromise penalties in relation to the filing of tax returns and payment of taxes under certain conditions.

Note that only the surcharges and compromise penalty are abated. The taxpayer should still pay the interest due. The program is also not available to those taxes where a Letter of Authority, Tax Verification Notice, Audit Notice, Letter Notice or discrepancy notices have already been issued or if the tax involved is already a subject of any pending criminal case for tax evasion and other criminal offenses under the Tax Code.

Copy of theĀ  Revenue Regulation is here. RR 9-2010

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Posted in Laws and Implementing Rules, Taxation | Tagged: , , , | 3 Comments »