BIR Launches Program Cutting Audits to Address Issues Brought by the Pandemic

The Bureau of Internal Revenue recently released its latest Revenue Regulation-21-2020, which promotes the promulgation of the VAPP (Voluntary Assessment and Payment Program) for the taxable year of 2018.According to this circular, taxpayers may settle their unpaid tax deficiencies for 2018 without being subject to any investigation or meticulous audit of their personal and business finances regardless of the types of tax they avail.

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