Practice question
Before an agreed assessment period expires, the taxpayer and CIR validly execute another written agreement extending it. Does Section 222(b) permit this further extension?
- No, because every agreement is an exemption
- Yes, a subsequent written agreement may extend the period if made before the prior agreed period expires
- Only an oral call can extend it
- Only the taxpayer’s bank may approve it
- Only after the prior period expires
Legal references
- NIRC Section 222(b): https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
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