The passage of the Tax Amnesty Law on July 23, 2018 under Republic Act 11213 created numerous thoughts and raised so many questions in my mind. Will it bring goodwill or chaos? Will it be a vessel of freedom or corruption?
The tax amnesty for me is very timely to clean up the messy records of the BIR on uncollected and unpaid taxes of any form. This law will somehow help in the clean up but I am just anxious if this will not lead to more corruption both on the side of the government and the stakeholders.
If this will be fully implemented and followed, we might benefit from it.
Let's take a look at its important provisions:
Title: Tax Amnesty Act RA 11213
An act enhancing revenue administration and collection by granting an amnesty on ALL UNPAID internal revenue taxes imposed by the National Government for taxable year 2017 and prior years with respect to: