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The BIR Form No. 0608 is used for filing a compromise settlement payment, allowing taxpayers to settle their tax liabilities under specific conditions.
This form covers various tax types including income tax, capital gains tax, estate tax, and value-added tax among others.
Taxpayers must classify themselves as either 'I' for individuals or 'N' for non-individuals when filling out the form.
The form allows for multiple payment methods including cash and check, which must be specified in the details of payment section.
Taxpayers are required to declare that the information provided is true and correct under penalties of perjury.
The form must be filled out completely with all applicable spaces marked and submitted to the appropriate BIR office for processing.
Once submitted, the form requires approval from the BIR, which will stamp it upon receipt to confirm processing.
