REMEDIES

 Focus on the remedies of the taxpayers

Section 202

For income tax, the final return is the Income tax return.

Calendar Year 2017 – December 31, 2017

ITR Fling – April 15, 2018
+ 3 Years
April 15, 2021 (BIR Cannot assess anymore any deficiency taxes for that period)

Until when can the return be amended?

- within 3 years

What will happen if the prescriptive period is extended?

10 years prescriptive period from recovery– for fraudulent tax returns

204 (A)
Basic Tax Interest Surcharges/CP Total
IT 1M - 500T 250T
V 2M - 1M 500T
WT 3M - 2M 750T
____________________________________________________________
6M 3.5M