Summary
RMO No. 30-2004 clarifies the 1% Centennial Taxpayers Recognition Program (CTRP) Voluntary Payment requirement for Late Qualifiers under item III, paragraph # 2 (VA2) of RMO No. 25-2004.
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Key points
- Basis of the 1% payment. With the CTRP extension, the 1% payment for Late Qualifiers is based on the Income Tax due for 2003 and 1st quarter 2004.
- Incremental and deadline. A 20% per annum incremental is added, computed daily from June 1, 2004 to the date of actual payment, which in no case is later than June 30, 2004.
Who is affected
- Late Qualifiers under the CTRP
Deadlines and effectivity
- Incremental runs from June 1, 2004 to date of payment
- Payment not later than June 30, 2004
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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