Tax Deficiencies

Ref.No. MDGT-2008-08

03 April 2008

To : Deans, Directors, heads of Units and all concerned

Subject : Tax Deficiencies

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Pursuant to BIR Revenue Regulation No. 2-98 dated 17 April 1998 on "Zero Tax", The Accounting Office witholds income tax such that the amount of income tax withheld at the end of the year is the correct amount of tax corresponding to the employees' taxable income.

While the Accounting Office has been implementing the above-mentioned Revenue