RMC No. 29-2012: Clarifies the form to be used for Waiver of the Defense of Prescription under the Statute of Limitations

Summary

RMC No. 29-2012 clarifies the form to use for the Waiver of the Defense of Prescription under the Statute of Limitations in Sections 203, 222 and related provisions of the NIRC of 1997, as amended.

Key points

1. Compliance with RMO No. 20-90. The provisions of RMO No. 20-90 must be strictly complied with for a Waiver to be valid.
2. Old form no longer used. The Waiver form prescribed in RMO No. 20-90 should no longer be used, because it has been revised per Revenue Delegation Authority Order No. 05-01.

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