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PIA Press Release
2006/12/21

BIR reminds public on tax deadlines

Iloilo City (21 December) -- 117 Revenue District Officers (RDOs) nationwide of the Bureau of Internal Revenue (BIR) reminded all taxpayers on the approaching deadlines of various tax programs under its agency.

Members of the Association of Chief Revenue Officers of the Philippines (ACROPHIL) issued the reminder as the revenue department nears the final stretch of its yearlong drive to raise at least P675 billion in tax revenues this year.

BIR North Quezon City president Rey Asterio Tambis said that the deadline for the agency's abatement program is on December 22.

The program gives taxpayers the opportunity to settle their delinquent accounts or assessments by abating their penalties including surcharges and interest.

Tambis said that the improved voluntary assessment program (IVAP) on the other hand would end on December 29.

Under the IVAP, taxpayers have the chance to avail of last priority privilege in audit while affording government revenues at the least administrative cost.

"It presents taxpayers with a perfect opportunity to clean their records before the start of the new year," Tambis explained.

The revenue officer also reminded taxpayers that December 31 is the deadline for the special revalidation program of outstanding tax credit certificates (TCCs) with creditable outstanding balances which are in possession of the original grantees of their transferees, whether unused or partially used.

Revalidation refers to the retirement, recall, or cancellation of all outstanding TCCs and their replacement with new TCC's that contain enhanced security features and updated formats.

Tambis stressed that "the BIR shall not accept any request for special revalidation after December 31. (PIA) [top]

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