Prescriptive Periods in Tax Assessments Under the National Internal Revenue Code (NIRC)
Part II of the Tax Assessment Lecture Series
ABOUT THE COURSE
This course is about prescription periods in tax assessments.
Prescription is a very powerful defense against a tax assessment. Often, tax practitioners would first check whether the tax assessment has already been prescribed or the period for the BIR to collect has been prescribed. No matter how valid the assessment is, prescription serves as a complete defense. A mastery of the prescriptive periods in tax assessments could mean significant savings for your clients.
At the end of this course, you should be able to:
- Explain the tax code timelines in reference to:
- The period to assess deficiency tax,
- The period to collect the assessed tax,
- The period to file criminal action,The
- period to file a claim for refund;
- Determine the instances when the prescriptive period to assess and collect tax is suspended;
- Identify the new requisites of a valid waiver;
- Identify the requisites for claiming a refund; and
- Differentiate false return from fraudulent return.
when you avail the Full Compliance (36 Units) bundle
Regular price for 1 credit unit course
Atty. Jesus Clint O. Aranas
Managing Partner, Aranas Cruz Araneta Parker & Faustino Law Offices
Clint graduated from Silliman University College of Law. He obtained his Bachelor of Science degree in Commerce from the Philippine School of Business Administration. He started his career as a legal assistant at the office of the late Senator Raul Roco. He later moved to the Sycip Gorres Velayo & Company. With over 20 years of experience in the field of taxation, he is known in the tax community as a competent and incorruptible practitioner.