Due to the government budget crunch due to the pandemic, the economic manager of the country looked
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Question:
Due to the government budget crunch due to the pandemic, the economic manager of the country looked into tax compromises and abatements done during the year. Upon evaluation, it discovered a tax liability of P400,000 which was compromised by the Regional Evaluation Board. The economic manager stated that the tax compromise is not valid since it is the CIR’s power for the tax compromise to take effect. He also adds that this power cannot be delegated.
Is his contention tenable?
Related Book For
Intermediate Accounting Volume 2
ISBN: 9781119497042
12th Canadian Edition
Authors: Donald E. Kieso, Jerry J. Weygandt, Terry D. Warfield, Irene M. Wiecek, Bruce J. McConomy
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