Monday, June 29, 2015

Revised Consolidated Schedule of Compromise Penalties for Violations of the National Internal Revenue Code

Revenue Memorandum Order (RMO) No. 7-2015 was issued by the bureau to adopt and implement a uniform application of the compromise penalties involving of the National Internal Revenue Code of 1997 (Tax Code), as amended, as well as to update the Schedule of Compromise Penalties specified under RMO No. 19-2007 and further deleting from the coverage thereof certain acts commonly resorted to by taxpayers as means of tax evasion.

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