Delinquent taxpayers can settle their obligations under the Tax Amnesty Program of the Bureau of Internal Revenue only until today, May 5.

The program, implemented in September last year, covers all internal revenue taxes imposed by the national government for the taxable year 2005 and prior years, with or without assessments duly issued before therefore, that have remained unpaid as of Dec. 31, 2005.

Those qualified will no longer face tax evasion charges if they will pay the BIR the equivalent of five percent of their net worth as of Dec. 31, 2005. The five percent will take the place of their outstanding tax liabilities and interest as of 2005.

As of April 4, the BIR has already collected P4.717 billion in additional tax revenues from the program.

Under the amnesty program, those who can avail are individuals, whether resident or non-resident citizens, or resident or non-resident aliens; partnerships; estates and trusts; corporations; cooperatives and tax exempt entities that have become taxable as of Dec. 31, 2005; and other juridical entities.

Those not eligible are withholding agents with respect to withholding tax liabilities; those with pending cases falling under the jurisdiction of the Presidential Commission on Good Government; those pending cases involving unexplained or unlawfully acquired wealth, revenue or income under the Anti-Graft and Corruption Practices Act;

Those with pending cases filed in court involving violation of the Anti-Money Laundering Law; those with pending criminal cases filed in court or in the Department of Justice for tax evasion and other criminal offenses under Chapter II of the Title X of the National Internal Revenue Code, as amended; and,

Those with pending criminal cases filed in court for felonies of frauds, illegal exactions and transactions, and malversation of public funds and property under Chapter III and IV of the Revised Penal Code and tax cases subject to final and executory judgement by the courts.*NLG

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