The November edition of the SyCipLaw T.I.P.S. is on the Voluntary Assessment and Payment Program for Taxable Year 2018 (VAPP) under Revenue Regulations No. 21-2020.

Under the VAPP, taxpayers may pay “all internal revenue taxes covering the taxable year ending December 31, 2018, and fiscal year 2018 ending on the last day of the months of July 2018 to June 2019.” It covers income tax, percentage tax, excise tax, documentary stamp tax, value-added tax, final withholding tax, creditable withholding tax, and taxes on one-time transactions, such as estate tax, donor’s tax, and capital gains tax.

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