RR No. 08-2004: Supersedes RR No. 7-2001 and RR No. 30-2002 relative to the compromise settlement of internal revenue tax liabilities

Summary

RR No. 8-2004 supersedes RR Nos. 7-2001 and 30-2002 on the Commissioner’s authority to compromise the payment of internal revenue tax liabilities of certain taxpayers.

Key points

1. Covered taxpayers. The authority covers taxpayers with outstanding receivable accounts and disputed assessments with the Bureau of Internal Revenue and the Courts.
2. Compromise on doubtful validity. The Commissioner may compromise payment where the assessment’s validity is doubtful. One ground is an issue on which a court of competent jurisdiction made an adverse decision against the Bureau and the Supreme Court has not yet decided with finality.

Who is affected

• Taxpayers with outstanding receivable accounts or disputed assessments with the BIR and the Courts

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