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>DOF, BIR give delinquent taxpayers one month to settle >their arrears >By Des Ferriols >The Philippine Star 07/07/2005 > >The Bureau of Internal Revenue (BIR) announced >yesterday that it was >offering a one-month period where taxpayers with >deficiencies can >volunteer to settle their arrears and avail of lower >surcharge. > >Taking care not to call it a tax amnesty, the >Department of Finance >(DOF) and the BIR issued yesterday the guidelines for >what they call >a "voluntary correction of tax deficiencies" to avoid >being audited >and prosecuted for tax evasion. > >According to the BIR, taxpayers who would volunteer to >settle their >tax arrears would be allowed to pay a reduced >surcharge ranging from >zero to 23 percent depending on the date of payment. > >The surcharge, however, will still be collected on top >of the basic >tax and interest on delayed tax payment. > >"Taxpayers rectifying their tax returns will be >allowed to enjoy the >lower surcharge limit of zero percent if they pay >within this >month," the BIR said in a statement. > >"The upper surcharge limit of 23 percent will be >slapped on >taxpayers paying their amended tax deficiencies in >December 2005," >the BIR added. > >According to the BIR regulation, payments of the basic >tax and the >corresponding interest and surcharge may be made in >one-time payment >or in installments. > >"All payments, however, must be made not later than >Dec. 31, 2005 >for taxpayers to avail themselves of the relief >granted under the >revenue regulations on tax surcharge abatement," the >BIR said. > >The BIR also stressed that the program for tax >surcharge abatement >would no longer apply to taxpayers who have already >been served >letters of authority, letter notices or discrepancy >notices by the >BIR for the tax period for which an amendment of tax >return is being >applied for. > >"This is not a tax amnesty," said Finance Secretary >Cesar V. >Purisima. "The taxpayers paying tax deficiencies have >to pay >interest and surcharges ranging from zero to 23 >percent, depending >on when they pay the surcharges levied on them." > >"They will enjoy lower surcharges if they pay earlier >than the Dec. >31 deadline," Purisima said. > >According to Purisima, the surcharge abatement program >was being >implemented in response to taxpayers who have offered >to voluntarily >correct their tax liabilities. > >Purisima attributed the taxpayer response to the >success of the DOF >and the BIR’s Run After Tax Evaders (RATE) program >which had made >an >example of various prominent business, entertainment, >sports and >political personalities who are now facing charges of >tax evasion. > > >http://www.philstar.com/philstar/NEWS200507070715.htm > >-------------------------------------- > > > >rv_thebirdnest@yahoogroups.com >From: Jun Manalang >Date: Thu Jul 7, 2005 >Subject: DOF, BIR give delinquent taxpayers one month >to settle >their arrears > >------------------------------------------ >

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