RMO No. 56-2000: Amends the schedule of suggested compromise penalties under RMO No. 1-90 relative to compliance requirements on the printing, possession, use and issuance of sales or commercial invoices

Summary

RMO No. 56-2000 amends the schedule of suggested compromise penalties under RMO No. 1-90 for compliance requirements on printing, possession, use and issuance of sales or commercial invoices.

Key points

1. Higher compromise amounts. The prescribed schedule does not stop the Commissioner or his duly authorized representative from accepting a higher compromise amount.
2. Lower compromise offers. An offer lower than the prescribed amount may be accepted only after approval by the Commissioner of Internal Revenue or his duly authorized representative.

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