Tax Alert No. 3 - [UPDATE] Tax amnesty on delinquencies
Under the Tax Amnesty Act, qualified taxpayers are given the chance to clean their tax records and avoid facing possible criminal charges and stiff penalties.
Extension of period to avail
Revenue Regulations No. 32-2020 issued on December 21, 2020 was made pursuant to Section 4 (tt) of Republic Act No. 11494 (known as “Bayanihan to Recover as One Act”), further amending Section 3 of Revenue Regulations No. 4-2019, as amended, extending the period to avail of the tax amnesty until June 30, 2021. Said period may be extended if the circumstances warrant an extension such as in case of country-wide economic or health reason/s.