Scribd Logo
Upload

Welcome to Scribd!

  • 314 views

    Preliminary Assessment Notice

    Uploaded by

    Hanabishi Rekka
    The document is a preliminary tax assessment notice from the Bureau of Internal Revenue to Bottlezone Corporation. It finds deficiencies in Improperly Accumulated Earnings Tax, Documentary Stamp Tax, and Value Added Tax for the 2016 tax year totaling 1,299,748.21 PHP. The corporation has 15 days to pay or a formal demand notice will be issued calling for payment including civil penalties and interest. Details of the tax discrepancies are provided in an accompanying annex.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Preliminary Assessment Notice

    Uploaded by

    Hanabishi Rekka
    314 views3 pages
    The document is a preliminary tax assessment notice from the Bureau of Internal Revenue to Bottlezone Corporation. It finds deficiencies in Improperly Accumulated Earnings Tax, Documentary Stamp Tax, and Value Added Tax for the 2016 tax year totaling 1,299,748.21 PHP. The corporation has 15 days to pay or a formal demand notice will be issued calling for payment including civil penalties and interest. Details of the tax discrepancies are provided in an accompanying annex.

    Original Title

    Preliminary Assessment Notice(1)

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    The document is a preliminary tax assessment notice from the Bureau of Internal Revenue to Bottlezone Corporation. It finds deficiencies in Improperly Accumulated Earnings Tax, Documentary Stamp Tax, and Value Added Tax for the 2016 tax year totaling 1,299,748.21 PHP. The corporation has 15 days to pay or a formal demand notice will be issued calling for payment including civil penalties and interest. Details of the tax discrepancies are provided in an accompanying annex.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    314 views3 pages

    Preliminary Assessment Notice

    Uploaded by

    Hanabishi Rekka
    The document is a preliminary tax assessment notice from the Bureau of Internal Revenue to Bottlezone Corporation. It finds deficiencies in Improperly Accumulated Earnings Tax, Documentary Stamp Tax, and Value Added Tax for the 2016 tax year totaling 1,299,748.21 PHP. The corporation has 15 days to pay or a formal demand notice will be issued calling for payment including civil penalties and interest. Details of the tax discrepancies are provided in an accompanying annex.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 3

    REPUBLIC OF THE PHILIPPINES

    DEPARTMENT OF FINANCE
    BUREAU OF INTERNAL REVENUE
    REVENUE REGION NO. 008 - MAKATI
    RDO No. 049 - NORTH MAKATI

    PRELIMINARY ASSESSMENT NOTICE

    November 27, 2017

    PRESIDENT
    BOTTLEZONE CORPORATION
    #3029, MAYON STREET, OLYMPIA, CITY OF
    MAKATI 1207
    TIN: 006-814-922-00000

    Sir/Madam:

    Please be informed that after investigation there has been found due from you deficiency
    Improperly Accumulated Earnings Tax, Documentary Stamp Tax, Value Added Tax for taxable period from
    January 01, 2016 to December 31, 2016 as shown hereunder:

    I. IMPROPERLY ACCUMULATED EARNINGS TAX

    Assessment No. P-LA012144-IAET-049-2016-11-17-0000051083

    Taxable Income P 4,108,763.00


    Add: a) Income subjected to final tax P 0.00
    b) NOLCO 0.00
    c) Income exempt from tax 0.00
    d) Income excluded from gross
    income 0.00 0.00
    Total P 4,108,763.00
    Less: Income Tax Paid P 24,999.90
    Dividends Declared / Paid 0.00 24,999.90
    Net Amount P 4,083,763.10
    Add: Retained earnings from prior years 9,778,463.00
    Total Accumulated Earnings as of taxable
    period ending (12/31/2016) P 13,862,226.10
    (Less): Amount that may be retained
    8,062,500.00
    Improperly Accumulated Taxable Income
    (IATI) P 5,799,726.10
    Tax Rate (Section 29 of NIRC) 10%
    Improperly Accumulated Earnings Tax
    (IAET) P 579,972.61
    Add: Surcharge P 144,993.15
    *20% Interest per annum from 01/11/2017
    to 11/15/2017 97,880.31
    Compromise Penalty 0.00 242,873.46
    *Total Deficiency Improperly Accumulated
    Earnings Tax Due P 822,846.07

    II. DEFICIENCY DOCUMENTARY STAMP

    PRELIMINARY ASSESSMENT NOTICE Page 1 of 3


    AUDM35/012144/2017
    Assessment No. P-LA012144-DS-049-2016-11-17-0000051084

    Tax Due (Per Audit) P 40,000.00


    Add / (Less) : Discrepancies / Adjustments
    0.00
    Tax Due (Per Audit) P 40,000.00
    Less: Allowable tax credits /payments
    Tax Paid Per Return P 0.00
    Add/(Less): Tax Payment Adjustment 0.00 0.00
    Deficiency Documentary Stamp Tax Due /
    (Overpayment) 40,000.00
    Add: Surcharge P 10,000.00
    *20% Interest per annum from
    01/05/2017 to 11/15/2017 6,882.19
    Compromise Penalty 0.00 16,882.19
    *TOTAL Documentary Stamp Tax Due 56,882.19

    III. DEFICIENCY VALUE-ADDED TAX

    Assessment No. P-LA012144-VT-049-2016-11-17-0000051085

    Taxable Sales / Receipts(Per Return) P 130,869,470.24


    Add / (Less) : Adjustments
    2,812,751.76
    Taxable Sales / Receipts (Per Audit) P 133,682,222.00
    Output Tax 16,041,866.64
    Less: Input Tax 15,597,641.67
    VAT Due(Overpayment/Tax Credit Refund) 444,224.97
    Less: VAT Withheld / Paid (Per Audit) 82,309.76
    Deficiency Value-Added Tax Due /
    (Overpayment) P 361,915.21
    Add: Surcharge P 0.00
    *20% Interest per annum from 01/26/2017
    to 11/15/2017 58,104.74
    Compromise Penalty 0.00 58,104.74
    *TOTAL VAT Due 420,019.95

    TOTAL AMOUNT DUE AND PAYABLE P 1,299,748.21

    * Please note that the interest and the total amount due will have to be adjusted if paid beyond November
    15, 2017.

    PRELIMINARY ASSESSMENT NOTICE Page 2 of 3


    AUDM35/012144/2017
    The complete details of the factual and legal basis covering the aforementioned discrepancies
    established during the investigation of this case and details of Administrative Penalties/Other Taxes, if
    applicable, are shown in the accompanying ANNEX "A" of this letter.

    The surcharge, if applicable, has been imposed pursuant to the provisions of section 248 of the
    Tax Code of 1997, as amended.

    The 20% interest per annum has been imposed pursuant to the provisions of Section 249(B) of the
    Tax Code of 1997.

    The compromise penalty, if applicable, has been imposed pursuant to RMO No. 7-2015.

    Pursuant to the provisions of Section 228 of the National Internal Revenue Code of 1997 and its
    implementing Revenue Regulations, you are hereby given fifteen (15) days from receipt hereof to pay the
    aforesaid deficiency Improperly Accumulated Earnings Tax, Documentary Stamp Tax, Value Added Tax. If
    we fail to hear from you within the said period, a formal letter of demand and assessment notice shall be
    issued by this Office calling for payment of your aforesaid deficiency tax/es, inclusive of the
    aforementioned civil penalty and interest.

    We hope that you will give this matter your preferential attention.

    Very truly yours,

    CAESAR R. DULAY
    COMMISSIONER OF INTERNAL REVENUE

    BY:

    GLEN A. GERALDINO
    REGIONAL DIRECTOR

    PRELIMINARY ASSESSMENT NOTICE Page 3 of 3


    AUDM35/012144/2017

    You might also like