Practice question
What starting point does 249(B) use for deficiency interest?
- Only the day an audit team is appointed.
- The date prescribed for payment of the tax.
- Only the day counsel is hired.
- Only the taxpayer's next birthday.
- Only the next election date.
Legal references
- NIRC Sections204,206-208,222-223 and248-249, as applicable and amended: https://lawphil.net/statutes/repacts/ra1997/ra_8424_1997.html
- RA10963 Section75, amended NIRC249: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
- RA11976 Sections41 and45, EOPT surcharge and specified concessions: https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
Answer this question in flashcards to review your response and continue practicing.