RR No. 4-2012 dated March 28, 2012 Abatement of penalties

RR No. 4-2012 dated March 28, 2012 Abatement of penalties

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"2.6.4 Late filing of return due to unresolved issue on classification/valuation of real property (for capital gains tax cases, etc.);

2.6.5   Offsetting of taxes of the same kind, i.e., overpayment in one quarter/month is offset against underpayment in another quarter/month,

2.6.6   Automatic offsetting of overpayment of one kind of withholding tax against the underpayment in another kind;

2.6.7  Late remittance of withholding tax on compensation of expatriates for services rendered in the Philippines pending the issuance by the Securities and Exchange Commission of the license to the Philippine branch office or subsidiary, provided, however, that the abatement shall only cover the surcharge and the compromise penalty and not the interest;

2.6.8  Wrong use of Tax Credit Certificate (TCC) where Tax Debit Memo (TDM) was not properly applied for; and

2.6.9  Such other instances which the Commissioner may deem analogous to the enumeration above."