Fairness is basic to a successful and equitable tax system. The proposed tax-reform bill seeks to address many of the inequities in our Tax Code. However, there is a basic inequity that is so oppressive to taxpayers which is not yet incorporated in any proposed bill…

An article entitled “Punitive Interest” penned by MPF Managing Partner Euney Marie J. Mata-Perez was published in the Business Mirror last Friday, March 24, 2017. Atty. Perez is advocating for the amendment of the provisions of Section 249 of the Tax Code which have been interpreted to allow the simultaneous imposition of deficiency and delinquency interests, to the prejudice of taxpayers. Please see below the link to the article. A longer version of the article is published here.

Article link : http://www.businessmirror.com.ph/punitive-interest/

#deficiencyanddelinquencyinterests #legalinterest #punitive #compensatory