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RMC No. 28-2004: Reiterates the provision of RMO No. 39-87 which specifies that deficiency tax assessments of P 100 or less shall no longer be assessed nor collected.

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Summary

RMC No. 28-2004 reiterates RMO No. 39-87 on deficiency tax assessments of P 100 or less.

Key points

  1. Small deficiency assessments. Deficiency tax assessments of P 100 or less are no longer assessed or collected.

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.