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    Digest RR 7-2001 PDF

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    Mae Trabajo
    This document summarizes Revenue Regulations No. 7-2001, which implements the compromise settlement of internal revenue tax liabilities in the Philippines. It outlines what types of tax cases may and may not be compromised, including delinquent accounts, cases under administrative protest, and civil/criminal tax cases. It also provides the basis for acceptance of compromise settlements as doubtful validity of assessment or financial incapacity. Minimum rates for compromise settlement are defined based on the basic assessed tax and taxpayer conditions. Compromise settlements above 500,000 PHP must be approved by the National Evaluation Board, while lower offers can be approved by the Regional Evaluation Board.

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    Digest RR 7-2001 PDF

    Uploaded by

    Mae Trabajo
    79 views1 page
    This document summarizes Revenue Regulations No. 7-2001, which implements the compromise settlement of internal revenue tax liabilities in the Philippines. It outlines what types of tax cases may and may not be compromised, including delinquent accounts, cases under administrative protest, and civil/criminal tax cases. It also provides the basis for acceptance of compromise settlements as doubtful validity of assessment or financial incapacity. Minimum rates for compromise settlement are defined based on the basic assessed tax and taxpayer conditions. Compromise settlements above 500,000 PHP must be approved by the National Evaluation Board, while lower offers can be approved by the Regional Evaluation Board.

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    Digest RR 7-2001.pdf

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    This document summarizes Revenue Regulations No. 7-2001, which implements the compromise settlement of internal revenue tax liabilities in the Philippines. It outlines what types of tax cases may and may not be compromised, including delinquent accounts, cases under administrative protest, and civil/criminal tax cases. It also provides the basis for acceptance of compromise settlements as doubtful validity of assessment or financial incapacity. Minimum rates for compromise settlement are defined based on the basic assessed tax and taxpayer conditions. Compromise settlements above 500,000 PHP must be approved by the National Evaluation Board, while lower offers can be approved by the Regional Evaluation Board.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    79 views1 page

    Digest RR 7-2001 PDF

    Uploaded by

    Mae Trabajo
    This document summarizes Revenue Regulations No. 7-2001, which implements the compromise settlement of internal revenue tax liabilities in the Philippines. It outlines what types of tax cases may and may not be compromised, including delinquent accounts, cases under administrative protest, and civil/criminal tax cases. It also provides the basis for acceptance of compromise settlements as doubtful validity of assessment or financial incapacity. Minimum rates for compromise settlement are defined based on the basic assessed tax and taxpayer conditions. Compromise settlements above 500,000 PHP must be approved by the National Evaluation Board, while lower offers can be approved by the Regional Evaluation Board.

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    REVENUE REGULATIONS NO.

    7-2001 issued August 1, 2001 further implements the


    compromise settlement of internal revenue tax liabilities. Cases which may be
    compromised are: 1) delinquent accounts; 2) cases under administrative protest pending
    in the Regional Offices, Revenue District Offices, Legal Service, Large Taxpayers Service
    (LTS), Collection Service, Enforcement Service and other offices in the National Office;
    3) civil tax cases being disputed before the courts; 4) collection cases filed in courts;
    5) criminal violations, other than those already filed in court or those involving criminal tax
    fraud; and 6) cases covered by pre-assessment notices wherein taxpayer is not
    agreeable to the findings of the audit office as confirmed by the review office.
    Cases that cannot be compromised are: 1) withholding tax cases; 2) criminal tax
    fraud cases; 3) criminal violations already filed in court; 4) delinquent accounts with duly
    approved schedule of installment payments; 5) cases where final reports of
    reinvestigation or reconsideration have been issued resulting to reduction in the original
    assessment; and 6) cases which become final and executory after final judgement of a
    court.
    The basis for the acceptance of compromise settlement are: 1) doubtful validity of
    the assessment; and 2) financial incapacity. The prescribed minimum rates (based on the
    basic assessed tax) for the compromise settlement of tax liabilities reckoned on a per tax
    type assessment basis are: a) 10% in cases of financial incapacity; and b) 40% in cases
    of doubtful validity. The prescribed minimum rate is 20% if the taxpayer is under any of
    the following conditions: 1) dissolved corporations; 2) non-operating companies for a
    period of less than three (3) years; and 3) surplus or earnings deficit resulting to
    impairment in the original capital by at least 50%.
    All compromise settlements within the jurisdiction of the National Office shall be
    approved by the National Evaluation Board (NEB) composed of the Commissioner and
    the four Deputy Commissioners.
    Offers of compromise assessments issued by the Regional Offices involving basic
    deficiency taxes of P500,000 or less, including minor criminal violations discovered by the
    Regional and District Offices, shall be subject to the approval by the Regional Evaluation
    Board. If the offer of compromise is less than the prescribed rates set forth in Sec. 4 of
    the Regulations, the same shall always be subject to the approval of the NEB.

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