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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A taxpayer offers 5% of a P600,000 basic assessed tax on an established financial-incapacity ground. Which statement is correct regarding the offer's rate?

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It needs no Board approval because the tax is below P1 million. A below-minimum offer can never be considered under Section 204. It must be accepted because inability to pay is alleged. The below-minimum offer requires Evaluation Board approval; it is not automatically an approved settlement.

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