GMA Bares New Tax Incentive; No BIR Auditing for Payments 20% over Last Year Order Enhances Voluntary Tax Compliance

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Byline: GENALYN D. KABILING

Taxpayers who pay at least 20 percent above their current income tax payments will now be exempted from internal revenue audit and investigation under a new incentive announced yesterday by Malacanang.

President Gloria Macapagal Arroyo issued Executive Order No. 399, ordering the Bureau of Internal Revenue (BIR) to implement the No Audit Program (NAP) for optimum tax compliance.

Acting on the proposal of Senate President Franklin Drilon, the President said the voluntary program aims to reduce corruption and administrative costs, while improving voluntary compliance "which lies at the foundation of any sound revenue program."

The executive order was released shortly …