Practice question
A covered small taxpayer satisfies the EOPT requirements. The otherwise applicable 249 rate for the stipulated period is 12%. What rate results from the 50% reduction?
- 0% automatically.
- 24%.
- 50% annual interest.
- 6%.
- 12% with no reduction.
Legal references
- CIR v. Stradcom Corporation, G.R.255520, April21,2025, MAIN decision: https://lawphil.net/judjuris/juri2025/apr2025/gr_255520_2025.html
- RA10963, TRAIN, amended NIRC249 deficiency/delinquency interest: https://lawphil.net/statutes/repacts/ra2017/ra_10963_2017.html
- RA11976, Ease of Paying Taxes Act, reduced interest for micro and small taxpayers: https://lawphil.net/statutes/repacts/ra2024/ra_11976_2024.html
Answer this question in flashcards to review your response and continue practicing.