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Flashcards — Multiple Choice

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Essay Multiple Choice

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All Jurisprudence based

0 tracked cards Commercial and Taxation Laws

A tax-crime predicate satisfying Section3(i)(35) is established. BIR has already recovered the same identified monetary proceeds in a separate proceeding. AMLC proposes forfeiture solely to recover those same proceeds again. Which qualification in RA11521 applies?

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The provision makes every property of every taxpayer forfeitable AMLC may not institute forfeiture to recover the same proceeds already recovered or collected by BIR in that separate proceeding The statutory qualification applies only to foreign banknotes BIR recovery automatically erases every possible tax-crime prosecution The final proviso requires duplicate recovery

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