The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Regulations No. 21-2020, which prescribes the policies, procedures, and guidelines in the implementation of the Voluntary Assessment and Payment Program (VAPP) for taxable year 2018. The VAPP has been introduced in light of the COVID-19 pandemic to provide for the collection of additional tax revenue that would otherwise be collected through audit and enforcement effort.
Under the VAPP, taxpayers that make a voluntary payme…