By Rose B. Palacio

Davao City (22 November) -- Bureau of Internal Revenue (BIR) XI Director Atty. Marcelinda Omila-Yap said that their office just received the latest revenue regulations number 18-2006 for the implementation of the latest program dubbed as "Improved Voluntary Assessment program (IVAP)" for taxable year 2005 and prior years under certain conditions. IVAP allows delinquent taxpayers to avail and be exempted from auditing.

Deadline for IVAP availment is November 29, 2006 subject to extension by the Commissioner.

A taxpayer who has availed of the IVAP shall not be audited, except upon prior authorization and approval of the Commissioner of the BIR when there is a strong evidence or finding of understatement in the payment of a taxpayer's correct tax liability by more than 30% as supported by a written report of the appropriate office stating in details the facts and the law on which such finding is based.

Audit of taxpayers shall automatically be suspended upon filing of application and payment of the IVAP amount.

Letters of Authority or Audit Notices, Letter Notices, Taxpayer Verification Notices and Mission Orders shall be cancelled and withdrawn for IVAP availments with issued Certificate of Qualification.

These regulations is being implemented to provide for the policies, procedures and guidelines for the collection of additional tax revenue which could be collected through audit and enforcement effort of the government.

IVAP covers all types of taxes, including taxes for one-time transactions, and may be availed of by qualified taxpayers on a per taxable year and or a per tax-type basis.

To maximize revenue collection with least administration costs, to encourage voluntary tax compliance, and to maintain harmonious relation with taxpayers by minimizing inconvenience relative to investigation, the taxpaying public is granted the opportunity to avail of the privilege of last priority in audit under IVAP in accordance with the rules of BIR.