Taxpayers told to avail of BIR audit program

The Bureau of Internal Revenue in Cebu through its regional director Jaime Santiago is encouraging all taxpaying public to again avail of the last priority in audit under the Improved Voluntary Assessment Program.

The program covers all types of taxes including taxes for one-time transactions, and maybe availed of by taxpayers on a per taxable year or period and on a per tax type basis for taxable years ending December 31, 2005 and fiscal year ending on any day not later than June 30, 2006 and all prior years.

IVAP is open to all taxpayers including those enjoying preferential tax regimes and those who previously applied under the No Audit Program (NAP) or the Expanded VAP but were disqualified.

Santiago said that taxpayers need to achieve, in general, a 30 percent increase in tax payment over the base year subject to payment of minimum amounts as indicated in the regulation.

Taxpayers disqualified from this program are those who have been issued Preliminary or Final Assessment Notice before the effectivity of the IVAP; those under investigation based on information filed by a tax informer; tax fraud cases pending in courts or the DOJ; taxpayers with unpaid taxes recognized in the books, unless paid first prior to availment; cases under Run After Tax Evaders and cases with Letter of Notice where discrepancy is more than 30 percent.

Santiago has advised taxpayers to proceed to the nearest BIR Office for any clarification and deadline for this program will be on December 29, 2006.

Santiago is also requesting taxpayers to still avail of the abatement program whereby all interests, surcharges and penalties on delinquent accounts and assessments can be cancelled if the taxpayer pays the basic tax due on or before December 22, 2006. - Gregg M. Rubio/BRP