The Bureau of Internal Revenue (BIR) has issued Revenue Regulations (RR) No. 18-2006 dated 26 September 2006 on the Improved Voluntary Assessment Program (IVAP) and Revenue Memorandum Circular No. 2-2007 dated 21 December 2006 providing guidelines on the implementation of IVAP. A taxpayer who has availed of the IVAP shall not be audited, except if authorized by the BIR Commissioner when there is strong evidence or finding of an understatement in the payment of taxpayer's correct tax liability by more than 30%. IVAP covers all internal revenue taxes corresponding to the taxable years ending 31 December 2005 and fiscal year...