REVENUE REGULATIONS NO. 17-2002 issued on October 16, 2002 expands the coverage of the Voluntary Assessment and Abatement Program (VAAP) to include other taxes and taxable periods not covered under RR No. 12-2002. The VAAP shall cover any person, natural or juridical, including estates and trusts, liable to pay any of the internal revenue taxes for the taxable years/periods specified hereunder, who due to inadvertence or otherwise, erroneously paid his/its internal revenue tax liabilities or failed to file tax return/pay taxes. The coverage of the VAAP is as follows: 1) Income Tax – calendar/fiscal year 2002 ending before June 30, 2002, and all prior taxable years; 2) Value-Added Tax – taxable quarter ending June 30, 2002 and all prior taxable periods; 3) Excise Tax – taxable period ending June 30, 2002 and all prior taxable periods; 4) Percentage Tax – taxable quarter/month ending June 30, 2002 and all prior taxable periods; 5) Documentary Stamp Tax (DST) – on transactions/documents entered into/executed up to June 30, 2002; 6) Improperly Accumulated Earnings Tax – on improperly accumulated earnings earned starting January 1, 1998 up to December 31, 2000; 7) Withholding Tax – on transactions occurring up to June 30, 2002; and 8) Taxes involving one-time transactions (i.e. Estate Tax, Donor’s Tax, Capital Gains Tax, Expanded Withholding Tax and DST on sale, exchange, or disposition of real property and/or shares of stock) – on transactions occurring on or before June 30, 2002, irrespective of whether the corresponding returns and payment of such taxes fall due after such date. The following taxpayers, however, are not covered by the Regulations: 1) taxpayers who have already received a Letter Notice (LN) from the BIR pursuant to RR No. 12-2002 in respect to the taxable period and corresponding taxes due from the underdeclared sales stated in the LN; 2) persons under investigation as a result of a verified information filed by a tax informer, duly processed and recorded in the BIR Official Registry Book on or before September 16, 2002; and 3) those covered by a Final Assessment Notice or by a Collection Letter issued on or before September 16, 2002. Applications for VAAP availment and corresponding payments for the following taxes and taxable periods must be received on or before November 15, 2002: 1) Income Tax – calendar and fiscal years 2000 and 2001; 2) Value-Added Tax – taxable quarters beginning January 1, 2000 up to taxable quarter June 30, 2002; and 3) Excise Tax – taxable quarters beginning January 1, 2000 up to taxable quarter ending June 30, 2002. For other taxes and taxable periods, applications and payments must be received not later than November 29, 2002. Payment of the minimum amounts under VAAP per Letter Notices (amounting to P 500,000 and above) is allowed in 2 to 3 equal installments within 2002, depending on the minimum amounts payable. For voluntary disclosed amounts (P 500,000 and above), installment payment will be in 3 equal parts, the first payment being made before the filing of the VAAP Application Form with the concerned Revenue District Office. Payment of the required amounts under the VAAP shall constitute an abatement or cancellation of penalties, and shall therefore be in lieu of surcharge, interest and penalties otherwise due on the deficiency taxes payable by the taxpayer.