RMO No. 04-2000: Suspends the conduct of tax audit, examination, investigation and/or verification

Summary

RMO No. 04-2000 issued January 20, 2000, immediately suspends all on-going tax audit, examination, investigation and/or verification of taxpayers’ book of accounts and records.

Key points

1. Suspension. The suspension stays in force until further notice.
2. Cases still allowed: prescribing and notices. Investigation of cases prescribing in year 2000 continues. Service of Warrants and Seizure Notices for prescribing cases also continues.
3. Cases still allowed: returns and clearances. Verification of capital gains tax, estate tax, donor’s tax returns and returns on sale of real property classified as ordinary asset continues before issuing Tax Clearance and/or Certification Authorizing Registration.
4. Cases still allowed: excise, retirement and refunds. Examination and/or verification of all excise taxes continues. So does that of internal revenue tax liabilities of taxpayers retiring from business. Verification and processing of all claims for refunds and/or credits also continues.

Who is affected

• Taxpayers under on-going audit, examination, investigation or verification

Deadlines and effectivity

• Effective immediately from January 20, 2000, until further notice

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