Professional Documents
Culture Documents
Cagampang-de Castro
TAXATION REVIEW
TAXATION
Remedies in general
1.Assessments
Prescriptive period For AssessmentA. Period of Assessment3 years after last day for
filing of return
a. Regular return-------3 years from due date (April 15)
b.Late filing---------3 years from date of actual filing
c. Amended return- 3 years from amendment
3 years =1,095 days (3x365 days)
B.
Assessment- condition to collection case in court (203)
Sending within 3 yearsnot receipt within 3 years
C. 3 yr. period interrupted by request for reinvestigation
/reconsideration
Protesting an Assessment-Sec. 228
1. Notice of informal conference2. taxpayer 15 days from receipt of notice to respond
-failure to respond = default
3. Pre- assessment Notice- (PAN)
4. Tax payer 15 days to respond
-failure to respond=default
Commissioner to notify taxpayer of findings
Exceptions:
1. the deficiency tax is a result of mathematical error appearing
on the face of the return;
2. discrepancy has been determined between the tax withheld
and the mount actually remitted by the agent
3. taxpayer who claims refund or tax credit has carried over and
automatically applied the same amount claimed against
estimated tax liabilities for the taxable quarter of the succeeding
year;
4. when excise tax on taxable items has not been paid;
5. when the article (local) or imported by an exempt person had
been sold or transferred to non-exempt entity.
5. Response to pre-assessment notice by taxpayer
5. Formal Letter of demand and Assessment issued
6. Disputed Assessment- Protest shall state facts,
applicable law, rules, regulations on which protest is
basedotherwise protest is void and without force
and effect
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(e)
2. Seizure of properties
3. Preparation of a duly authenticated certificate (with legal
effect as a legal execution ) issued by the revenue agent to
execute the order of distraint and levy.
4. Publication of Notice of sale at public auction
5. Sale at public auction;
OR forfeiture of real property levied, in favor of government
in certain instances
6. Bill of sale/Deed of Sale
7. Proceeds to be remitted to national treasury as internal
revenue collection
8. registration of tax sale with the Register of Deeds
9. one-year Redemption period from the registration of the sale
at public auction.
10.
Return of property upon redemption
11.
Redemption of forfeited real property- actually a
repurchase because, the ownership is transferred to
government upon forfeiture. Full amount of taxes should be
paid plus interst, penalties and cost/charges due.
12.
Forfeited property, not redeemed shall be resold at
public auction in sealed bids.
13.
Negotiated sale o f forfeited proper allowed if public
bidding fails for two(2) consecutive times.
14. Injunction not available to restrain collection of tax
Sec. 205.
(a)
DISTRAINT of goods, chattels, or effects and other
personal property of whatever character, including stocks
and other securities, debts, credits, bank accounts, and inter
in and rights to personal property; and
LEVY on real property and interest in or rights to real property;
(b)
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