RR No. 02-99: Establishes the policies and procedures for the availment of immunity from audit and investigation of Income Tax, VAT and Percentage Tax returns filed for taxable year 1998 granted under the Economic Recovery Assistance Payment (ERAP) Program

Key points

1. Condition for immunity. The taxpayer pays or has paid TWENTY PERCENT (20%) or more than the tax paid in 1997 for Income Tax, VAT and/or Percentage Taxes. Basic deficiency taxes paid count in cases already audited.
2. Exclusion. The immunity does not apply to withholding tax returns, whether for Income, VAT or Percentage Tax purposes.

Who is affected

• Taxpayers who filed Income Tax, VAT and Percentage Tax returns for taxable year 1998

Deadlines and effectivity

• Covers returns filed for taxable year 1998