Taxation, 2013 Bar — Question MC-XI

MULTIPLE CHOICE

Taxpayer A was required by the BIR to sign and submit a waiver of the statute of limitations on the assessment period, to give the BIR more time to complete its investigation. The BIR accepted the waiver but failed to indicate the date of its acceptance. What is the legal status of the waiver? (1%) (A) The waiver is valid because the date of acceptance is immaterial and unimportant. (B) The waiver is invalid; the taxpayer cannot be required to waive the statute of limitations. (C) The waiver is invalid; the date of acceptance is crucial in counting the start of the period of suspension of the prescriptive period (CIR v. Kudos Metal Corp., 620 SCRA 232). (D) The waiver is valid, having been accepted by the BIR.

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