Summary
RR No. 15-2005 sets policies and guidelines for abating surcharges when taxpayers file amended tax returns under certain conditions.
Key points
- Who may amend. Taxpayers may file an amended return to show correct income or pay correct taxes. They pay the deficiency tax plus interest, in full or in installments, and pay a surcharge under the schedule.
- Surcharge schedule. Payment on or before July 31, 2005 carries 0% of the amount paid. After July 31 to August 31, 2005 it is 5%. After August 31 to September 30 it is 10%. After September 30 to October 31 it is 15%. After October 31 to November 30 it is 20%. After November 30 to December 31, 2005 it is 23%.
- Deadline and installments. Amended returns and payment must be received by the BIR not later than December 31, 2005. For installments, all payments are due on or before December 31, 2005, and each is charged the rate for the date the BIR received it.
- Allowed amendments. The amendment may only raise gross revenue/receipts or lower a deduction from them.
- Other conditions. No letter of authority, letter notice or discrepancy notice may have been served for the tax period. For importation-related amendments, proof of payment of duties and taxes to the Bureau of Customs is required.
- Limits. Amending and paying presupposes full and accurate disclosure. The BIR may still investigate and prosecute, and criminal liability is not extinguished.
Who is affected
- Taxpayers filing amended returns who meet the conditions
Deadlines and effectivity
- Surcharge schedule runs July 31 to December 31, 2005
- Amended return and payment received not later than December 31, 2005
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.