Philippines Bureau of Internal Revenue Issues Regulations for Voluntary Assessment and Payment Program
The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 21-2020, which prescribes the policies, procedures, and guidelines in the implementation of the Voluntary Assessment and Payment Program (VAPP) for taxable year 2018. The VAPP has been introduced in light of the COVID-19 pandemic to provide for the collection of additional tax revenue that would otherwise be co…
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