CTA EB GR#2587, February 14, 2023
Highlights:
Revenue Memorandum Circular No. 40-2003 considers an LN as a notice of audit or Investigation only for the purpose of disqualifying the taxpayer from amending his returns.
Highlights:
Under RR No. 12-2002, LN is issued to a person found to have underreported sales/receipts per data generated under the RELIEF system. Upon receipt of the LN, a taxpayer may avail of the BIR's Voluntary Assessment and Abatement Program.
Revenue Memorandum Circular No. 40-2003 considers an LN as a notice of audit or Investigation only for the purpose of disqualifying the taxpayer from amending his returns.