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PIA Press Release
2006/12/13

Avail of IVAP, be exempted from auditing - BIR

By Rose B. Palacio

Davao City (13 December) -- Bureau of Internal Revenue (BIR) XI Director Atty. Marcelinda Omila-Yap urged taxpaying public to avail of the "Improved Voluntary Assessment program (IVAP) for taxable year 2005 and prior years (under certain conditions) and be exempted from auditing.

A taxpayer who has availed of the IVAP will 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 will 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of authority or Audit Notices, Letter Notices, Taxpayer Verification Notices and Mission Orders will be cancelled and withdrawn for IVAP availments with issued Certificate of Qualification.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 would 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. (PIA XI) [top]

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