Thursday, December 14, 2006 BIR sets deadline for tax program
THE Bureau of Internal Revenue–Cebu Region is urging taxpayers to again avail themselves of the last priority in audit under the improved voluntary assessment program (Ivap) under RR 18-2006.
The program covers all types of taxes, including taxes for one-time transactions. It may be availed of by taxpayers on a per taxable year or period, and on a per tax type basis for taxable years ending Dec. 31, 2005 and fiscal year ending on any day not later than June 30, 2006 as well as all previous years.
Ivap is open to all taxpayers, including those enjoying preferential tax regimes and those who previously applied under the “no audit program” or the expanded VAP but were disqualified.
Taxpayers need to achieve, in general, a 30 percent increase in tax payment over the base year, subject to payment of minimum amounts as indicated in the regulation.
Taxpayers who cannot avail themselves of the program are those who have been issued preliminary or final assessment notice before the effectivity of the Ivap. Those under investigation based on information filed by a tax informer are also disqualified.
Other taxpayers who cannot take advantage of the program include: those who have pending tax fraud cases; unpaid taxes; and those facing tax evasion charges.
Deadline for the program is Dec. 29 this year.
BIR Cebu Director Jaime Santiago, on the other hand, is requesting taxpayers to avail of the abatement program. (PR)
