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Saturday, July 09, 2005
BIR’s No Audit Program available until July 31
Business taxpayers may still avail themselves of the “No Audit Program” (NAP) of the bureau because the deadline has been extended to July 31, according to Bureau of Internal Revenue (BIR) 13, Cebu City Regional Director Jaime B. Santiago.
The program aims to encourage taxpayers to voluntarily declare and pay higher taxes, thereby reducing administrative costs that are entailed from audits and investigations conducted by the bureau, a statement said.
Taxpayers who qualify for the program will be exempted from audit and/or investigation for the period for which they qualify. The NAP will be in force for taxable years 2004 to 2008.
Santiago also informed the public that after the Supreme Court issued a temporary restraining order (TRO) last July 1 on the implementation of the expanded value-added tax (e-VAT), the BIR issued Revenue Memorandum Circular (RMC) 30-2005 ordering the deferment of the implementation of Revenue Regulations (RR) 14-2005 and maintenance of the status quo by reverting the VAT status of concerned taxpayers to their registration status prior to July 1.
With the TRO in effect and the issuance of the RMC, all taxpayers shall still be liable for the taxes and the tax rates they were subject to prior to the effectivity of Republic Act 9337.
However, VAT already collected and for which VAT invoice/receipts have been issued shall be declared in the monthly VAT declaration for the month and remitted to the BIR.
All non-VAT invoices/receipts which were stamped as VAT invoice in compliance with RR 14-2005 will be re-stamped with the following words on the face of the invoice in red ink: “Non-VAT no input allowed.” Furthermore, a line should be drawn across the previously stamped words “VAT-registered.”
All VAT taxpayers who become exempt from VAT under RA 9337, who had stamped their VAT invoices with the words “Non-VAT registered as of____,” should draw a red line across the word “Non.”
(July 9, 2005 issue)
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