Implementation of penalty provisions under TRAIN Law

Implementation of penalty provisions under TRAIN Law

(Revenue Regulations No. 13-2021 issued on June 23, 2021)

This Tax Alert is issued to inform all concerned on the implementation of the penalty provisions under Sections 76, 77, 78, 79, and 80 of Republic Act (RA) No. 10963 (TRAIN Law), amending Sections 254 and 264 of, and adding Sections 264-A, 264-B and 265-A to, the National Internal Revenue Code (NIRC) of 1997, as amended.