12 Questions
The Revenue Regulations No. 18-2013 was issued on November 27, 2013.
False
The preparation of a Notice of Informal Conference is still a requirement in the issuance of a deficiency tax assessment.
False
The Preliminary Assessment Notice (PAN) does not show the facts and laws on which the proposed assessment is based.
False
The taxpayer has 30 days to respond to the Preliminary Assessment Notice (PAN).
False
If the taxpayer fails to respond to the Preliminary Assessment Notice (PAN), a Formal Letter of Demand will not be issued.
False
The Formal Letter of Demand and Final Assessment Notice (FLD/FAN) does not include applicable penalties.
False
A PAN is required when a discrepancy has been determined between the tax withheld and the amount actually remitted by the withholding agent.
False
A FLD/FAN shall be issued within 15 days from the filing of the taxpayer's response when the taxpayer disagrees with the findings of deficiency tax or taxes.
True
The taxpayer can protest administratively against the FLD/FAN within 60 days from the date of receipt thereof.
False
A written request for reconsideration or reinvestigation can be filed by the taxpayer protesting an assessment.
True
The assessment shall be void if the FLD/FAN does not state the facts, the law, rules and regulations, or jurisprudence on which the assessment is based.
True
The taxpayer is required to pay the deficiency tax liability, inclusive of penalties, within 15 days from the date of receipt of the FLD/FAN.
False
Amendments to Revenue Regulations No. 12-99 related to due process in tax assessments. Changes include deletion of Section 3.1.1 and renumbering of other provisions. Evaluate the impact of these changes on tax liabilities.
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