BIR lauds PRRD for veto of tax amnesty 0 SHARES Share it! Insiders said this would embolden tax cheats to avail of the privilege paying the minimum to avoid audit and prosecution for tax evasion. Likewise, they said it would be difficult for taxmen to determine the accuracy of the amnesty tax declaration and payment due to the absence of bank records. Revenue field officials also said the President was right in limiting the amnesty application to estate taxes and delinquent accounts. They said settling of delinquent accounts become more affordable as the amnesty payment is reduced to only 40 percent of the basic tax, plus the waiving of penalties for late payment.

Source: Manila Bulletin February 20, 2019 03:32 UTC