RMO No. 18-2000: Prescribes the policies and procedures in the conduct of audit of large taxpayers for CY 2000

Key points

1. Coverage. The Audit Program covers income, value-added, percentage, withholding and other taxes, or a particular tax liability, of large taxpayers. It covers taxable years 1998 and 1999 and uninvestigated prior years.
2. Fiscal-year corporations. Taxable years 1998 and 1999 include all corporations with fiscal years ending on or before June 30, 1999 and on or before June 30, 2000, respectively.
3. List of taxpayers. The Chief, Large Taxpayers Assessment Division, draws the list of taxpayers for audit and submits it to the Assistant Commissioner (ACIR), Large Taxpayers Service, for pre-approval. The Commissioner of Internal Revenue gives final approval, including issuing and approving all Letters of Authority (LAs).
4. Tax Verification Notices. The ACIR, Large Taxpayers Service, issues and approves all TVNs, unless delegated in writing to the Chief, Large Taxpayers Assessment Division.
5. Rotation. A Revenue Officer or Group Supervisor cannot audit or investigate the same taxpayer for two (2) consecutive years/periods.

Who is affected

• Large taxpayers
• Corporations with fiscal years ending on or before June 30, 1999 and June 30, 2000

Deadlines and effectivity

• Covers CY 2000, taxable years 1998 and 1999 and uninvestigated prior years