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Wednesday, October 6, 2010

Secrets on BIR Abatement Program Exposed

Avail the Bureau of Internal Revenue's Abatement Program pursuant to Revenue Regulations (RR) No. 9-2010 ONLY AFTER THOROUGHLY READING AND UNDERSTANDING THESE:

1. Since RR 9-2010 is in line with the Run After Tax Evaders (RATE) Program, then the BIR Abatement Program is applicable to ... 

RR 9-2010; Section 1. Background. - The Run After Tax Evaders (RATE) Program is being implemented by the Department of Finance (DOF) and Bureau of Internal Revenue (BIR) to investigate and prosecute individuals and/or entities engaged in tax evasion and other criminal violations of the National Internal Revenue Code of 1997 (Code), as amended. IN LINE WITH THIS PROGRAM, the BIR has adopted the policy to deter, to the greatest possible degree, TAX EVASION PRACTICES and to encourage voluntary compliance with the internal revenue tax laws.

2. What are the guarantees of availing this program aside from the abatement of corresponding surcharges and/or compromise penalties? Look for the answers here:

RR 9-2010; Sec. 3 Limitations. - The filing of original returns/amended returns and payment of deficiency taxes made pursuant to these Regulations presupposes full and accurate disclosure by the taxpayer, and SHALL NOT PRECLUDE THE BIR FROM INVESTIGATING THE CORRECTNESS OF SUCH RETURNS OR SUFFICIENCY OF THE ATTACHMENTS, AND/OR PROSECUTING CRIMINAL VIOLATIONS IN APPROPRIATE CASES UNDER THE CODE, as amended.

How about receiving below form, when the BIR exercise their discretionary power?

3. Most importantly, is this allowed by the law? Republic Act No. 9480 states that:

R.A. No. 9480; Sec. 11. Moratorium on the Grant of Tax Amnesty. - In order to encourage and improve tax compliance by taxpayers, it is hereby declared the policy of this Congress that the grant of tax amnesty, in whatever manner and form, shall not henceforth be allowed: Provided, that THIS MORATORIUM SHALL LIKEWISE APPLY TO ANY ADMINISTRATIVE TAX AMNESTY BY THE BIR.

The confirmation of its legality can be answerable by this, is the BIR Abatement Program pursuant to RR No. 9-2010 approved by the Congress of the Philippines?

The above secrets were thoroughly discussed by veteran tax consultant Mr. Emelino T. Maestro (ETM) last October 5, 2010 at Makati Shangri-la. Paranaque Room A and B were filled by participants composed of business owners, company officers, lawyers, accountants, bookkeepers and other taxpayers practicing the art of self-education.

"We learn more by looking for the answer to a question and not finding it than we do from learning the answer itself."  ~ Lloyd Alexander

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