Summary

RR No. 33-2020 amends RR No. 21-2020 on the Voluntary Assessment and Payment Program (VAPP) for Taxable Year 2018 under certain conditions.

Availment period. Qualified persons can avail of the VAPP until June 30, 2021, unless the Secretary of Finance extends it further.
Effect of a Certificate of Availment. A taxpayer with a duly issued Certificate of Availment is not audited for 2018 for the tax types covered. Those who avail on Withholding Taxes may claim deduction on the corresponding income payment under RR No. 6-2018.
Audits in progress. An ongoing audit is suspended upon availment while the availment is evaluated, and resumes if found invalid. If valid, the Letter of Authority, Tax Verification Notice, Discrepancy Notice, Notice of Discrepancy, Preliminary Assessment Notice and Final Assessment Notice for pending cases are withdrawn and canceled.
Grounds for invalidation. Despite a Certificate of Availment, the availment becomes invalid and subject to audit, upon prior approval of the Commissioner, if there is strong evidence of under-declaration of sales, receipts or income or overstatement of deductions by more than 30%, and/or verifiable information that tax was withheld but not remitted.
Notice, appeal and credit of payment. Denial or invalidation is valid only if the Division Chief (LT Office) or Revenue District Officer formally notifies the taxpayer with factual reasons. The taxpayer may appeal to the Assistant Commissioner-Large Taxpayer Service or Regional Director within thirty (30) days from receipt, and any voluntary payment may be applied against deficiency tax later assessed.

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

RR No. 33-2020: Amends Revenue Regulations No. 21-2020 relative to the Voluntary Assessment and Payment Program for taxable year 2018 under certain conditions.