Summary
RMC No. 85-2016 further clarifies issues on the audit suspension under RMC No. 70-2016, as supplemented by RMC No. 75-2016. It covers refund and TCC processing and Letter Notices for taxable year 2013.
Key points
- Refunds and TCC. Processing of all requests or applications for tax refund or Tax Credit Certificates (TCC), regardless of tax type, is not covered by the suspension of investigation. The Letter of Authority (LOA) issued for it covers only the specific tax type that is the subject of the request.
- Letter Notices for 2013. Verification and evaluation of issued Letter Notices (LNs) covering taxable year 2013 is suspended under RMC No. 70-2016. LNs covering taxable year 2013 with corresponding open LOAs issued prior to July 1, 2016 are not covered by the suspension.
Who is affected
- Taxpayers applying for tax refund or TCC
- Taxpayers with Letter Notices for taxable year 2013
Deadlines and effectivity
- Open LOAs issued prior to July 1, 2016 are outside the suspension
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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