Payment of Tax Amnesty on May 5

May 1st, 2008 --

Tax Attorney Marcelinda Omila-Yap, who heads the Regional BIR in Davao, said that all agent banks will still accept payments for the Tax Amnesty program til May 5, 2008. Tax Lawyers and Tax Accountants can now sigh a collective relief because of the extension.

In order to avail of the Tax Amnesty program, one has but to see the Revenue District Officers(RDO) at the Bureau of Internal Revenue. The RDO will guide the taxpayers on how to file for tax amnesty. They are however, prevented from verifying or inspecting the forms or payments made.

Philippine Republic Act 9480 covers the current Income Tax Amnesty program:

“An Act Enhancing Revenue Administration and Collection by Granting an Amnesty on all Unpaid Internal Revenue Taxes Imposed by the National Government for Taxable Year 2005 and Prior Years” grants immunity from the payment of taxes and the apparent civil, criminal or administrative penalties under the National Internal Revenue Code of 1997, arising from the failure to pay any and all internal revenue taxes for taxable year 2005 and prior years.

Under this Republic Act, a taxpayer’s Income Tax Amnesty Return and the Statement of Asset, Liabilities and Net worth and the books of accounts and other records for the years will not be examined anymore, inquired or looked into by any person or government office. Taxpayers who filed under the amnesty program can use this as a defense on any case brought against him.

The Statement of Asset, Liabilities and Net worth of the taxable year 2005 (calendar or fiscal) filed by the taxpayer shall be presumed to represent the true and correct net worth of said taxpayer as of such period. Even if the BIR suspects commission of tax fraud for taxable year 2005 and prior years, the taxpayer can still avail of the tax amnesty program.

What is not covered by the TAP are pending criminal cases filed in court as well as tax evasion cases and cases under the BIR filed with the Department of Justice on or before the date of effectivity of tax amnesty law which is June 16, 2007.

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