Salceda said that the bill also seeks to unify the requirement for VAT documentation, requiring only an invoice instead of both an invoice and a receipt.
In filing the measure, Salceda said that the bill seeks to improve “tax morale” or the enthusiasm of taxpayers to meet their tax obligations.because the process is tedious, and open to abuse and rent-seeking,” Salceda said. Moreover, the bill also seeks to institutionalize the taxpayers bill of rights which include the following:Right to timely and easy to understand informationRight to the consistent and transparent application of the lawRight to privacy and confidentiality of information, unless authorized by the taxpayer or by lawRight to finality of tax cases, including, but not limited to, agreement on the amount of tax due“This is the first ever tax reform dedicated exclusively to making the taxpayer’s...
The bill will be brought to the plenary for further debates before it can be approved on second and third reading.
Source: Law Daily Report (lawdailyreport.net)
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