The tax amnesty being available does not mean taxpayers should automatically take it up. In some cases, there may be a better alternative for delinquent taxpayers. These alternatives could be compromise settlements, abatement of penalties, or even protesting the assessment.
The Center for Strategic Reforms of the Philippines launches the Tax Amnesty Roadshow to guide taxpayers and let them decide whether the tax amnesty will be beneficial for them or not. The initiative is held in partnership with the Bureau of Internal Revenue and the Asian Consulting Group. The first stop of this roadshow is in Vigan on June 14-15.
Led by the Philippine Tax Whiz Mon Abrea, the Tax Amnesty Roadshow will cover both the Tax Amnesty on Delinquencies and the Estate Tax Amnesty, with some tax savings tips included.
a. Income Tax Comparison
b. Narrow Taxpayer Base
c. Low Voluntary Compliance
d. Inefficient Tax System
e. Source of Revenue Collections
II. Tax Amnesty Act
a. Estate Tax Amnesty (what it is, how to avail)
b. Tax Amnesty on Delinquencies (what it is, how to avail)
c. Vetoed Provisions
III. Tax Savings
a. Optional 8% vs. Graduated Rates
b. Optional Standard Deduction vs. Itemized Deduction
c. Barangay Micro Business Enterprises
d. Tax Planning and Compliance
The Tax Amnesty Roadshow will also stop by in Bacolod (June 18-19), Puerto Princesa, Palawan (June 21-23), Laguna (July 9), Albay (July 10-11), and Cebu (July 19-20).
The Tax Amnesty Roadshow is part of CSR Philippines’ “Tax Amnesty and Reform” advocacy, which recognizes tax education as a vital part in a genuine tax reform. With more educated taxpayers, CSR Philippines hopes to encourage more taxpayers to be responsible and pay the right taxes.
Tax education is also important in helping taxpayers avoid tax violations and incurring significant penalties.
CSR Philippines had previously launched another roadshow, with particular focus on TRAIN Law and how taxpayers can take advantage of it. The roadshow had also visited various provinces in Luzon, Visayas, and Mindanao. In the course of its run, CSR Philippines had assisted thousands of micro, small, and medium enterprise (MSME) owners.
Register now at tinyurl.com/ACGTaxHubTalksVIGAN. If you want to know more about the Tax Amnesty Roadshow, contact Marion at 0917 629 1897.