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Revenue Memorandum Circular · RMC

RMC No. 43-2022

To prescribe the non-imposition of surcharge on amended tax returns.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
43
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 43-2022 (issued April 12, 2022) prescribes the non-imposition of surcharge on amended tax returns. The 25% surcharge will not be imposed on an amendment of a tax return if the taxpayer filed the initial return on or before the prescribed due date. However, the 25% surcharge will be imposed on a tax deficiency found during audit if the return being audited was filed beyond the prescribed period or due date.