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30 2002 Revenue - Regulations - Implementing - Sections20181220 5466 Ew6q98
30 2002 Revenue - Regulations - Implementing - Sections20181220 5466 Ew6q98
3. If the application is premised under Sec. 4.1.3 hereof, a copy of the applicant's
latest audited nancial statements or audited Account Information Form led with the
BIR shall be submitted with the application. Nonetheless, for situation under Sec.
4.1.3.3 hereof, the "Notice of Dissolution" submitted to SEC or other similar or
equivalent document should likewise be submitted. For situation under Sec. 4.1.3.6, a
copy of the order declaring bankruptcy or insolvency shall be submitted.
In all cases of offer based on nancial incapacity, Waiver of the Secrecy of Bank
Deposit under R.A. 1405 and Sworn Statement saying that he has no Tax Credit
Certi cate (TCC) on hand or in transit or claim for tax refund or TCC under the National
Internal Revenue Code of 1997 and Executive Order No. 226 pending in any o ce shall
be submitted.
Moreover, additional requirements prescribed under the existing Revenue
Memorandum Order (RMO) shall still be complied with unless amended and/or
expanded by an amendatory RMO.
SE CTI O N 6. Approval of Offer of Compromise. — Except for offers of
compromise where the approval is delegated to the REB pursuant to the succeeding
paragraph, all compromise settlements within the jurisdiction of the National O ce
(NO) shall be approved by a majority of all the members of the NEB composed of the
Commissioner and the four (4) Deputy Commissioners. All decisions of the NEB,
granting the request of the taxpayer or favorable to the taxpayer, shall have the
consequence of the Commissioner.
Offers of compromise of assessments issued by the Regional O ces involving
basic de ciency taxes of Five Hundred Thousand Pesos (P500,000) or less and for
minor criminal violations discovered by the Regional and District O ces, shall be
subject to the approval by the Regional Evaluation Board (REB), comprised of the
following Officers of the Region:
Regional Director — Chairman
Members:
• Assistant Regional Director
• Chief, Legal Division
Recommending Approval: