Practice question
For compromise cases other than financial incapacity, what ordinary minimum does Section 204(A) prescribe, subject to its approval rules for lower offers?
- Five percent of any convenient amount
- Only the taxpayer’s proposed payment
- Ten pesos
- Forty percent of the basic assessed tax
- One hundred percent of the taxpayer’s assets
Legal references
- NIRC, Section 204(A)-(B): https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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