by Maria Gracia D. Dycoco
Halloween season has come upon us. It is that time of the year when spooky stories are being told, costumes are being worn and "trick or treats!" are being shouted by children asking for candies and sweets. This year, aside from trick-or-treating children, erring taxpayers are also up for a treat by means of a tax amnesty which is already brewing in Congress..
In line with the current administration's tax reform program, Rep. Danilo Suarez, third district representative of Quezon Province, sponsored House Bill (HB) No. 3832 entitled An Act Granting Tax Amnesty on All Unpaid Internal Revenue Tax Liabilities for Taxable Period January 2006 to June 2016, otherwise known as the Tax Amnesty Act of 2016.
Tax amnesty, as defined by the Supreme Court, is a "general pardon or the intentional overlooking by the state of its authority to impose penalties on persons otherwise guilty of violation of a tax law." To put it simply, taxpayers who failed to disclose their income or pay their tax liabilities from previous years are granted forgiveness by the government free from any civil, criminal or administrative penalties arising from their failure to pay taxes.
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