Practice question
An otherwise eligible owner has unpaid pre-effectivity RPT principal plus penalties, surcharge and interest. Within the RA12001 statutory amnesty window, the owner elects the authorized installment method and satisfies all conditions; none of the exclusions applies. The owner demands cancellation of principal merely because amnesty applies. Which is correct?
- The amnesty covers penalties, surcharges and interest; the delinquent principal must still be paid under the authorized method
- Amnesty automatically extinguishes all principal
- Only taxpayers who refuse all payment qualify
- Installment payment is categorically forbidden
- The amnesty makes every future year permanently tax-free
Legal references
- RA12001 Real Property Valuation and Assessment Reform Act: https://lawphil.net/statutes/repacts/ra2024/ra_12001_2024.html Section30; facts stipulate eligibility and timely compliance.
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