As part of a voluntary investment and reduction programme, the PBA paid PHP 23 million as part of its offer of a compromise settlement of 15% of basic default taxes in 2003. f. In the event of legal action to enforce the provisions of this Agreement, the winning party shall have the right to recover attorneys` fees. The parties agree that the approval of this agreement by the Tribunal puts an end to this dispute, except for the purposes of execution in case of delay. « As a result, this case is now considered closed and closed, » the financial court said, adding that the joint request for a decision would be accepted on the basis of a compromise agreement filed on September 11, 2019. It is obvious that the very purpose of a compromise agreement is to avoid disputes before the courts in which the opposing parties would settle their disputes by mutual agreement without judicial intervention, or to stop a dispute already initiated. If a compromise agreement has already been reached and one of the parties refuses to honour its commitment, the other party may either disobey the agreement and appeal to the courts, or execute the agreement already concluded in the contract. This is expressly provided for in Article 2041 of the new Civil Code of the Philippines, to say: g. This agreement aims to bind and benefit the parties, their heirs, their representatives, their legal representatives, their beneficiaries and their beneficiaries. Under tax law, the amounts involved in the compromise must be approved by the Evaluation Committee, which consists of the Commissioner and four Deputy Commissioners of the BIR. After the negotiations, the BIR accepted an improved compromise offer from the PBA for PHP 48.5 million, or 40% of all deficit taxes and withholding taxes.
The amount was paid by PBA in July 2019. e. This agreement was the result of a negotiated solution and cannot be interpreted as being prepared by any party. Dear Morry, before answering your question, we believe that it is necessary to explain the concept of a compromise agreement. The new civil code of the Philippines defines a compromise agreement as follows: Dear PAO, my son`s father and I have agreed in writing that he will give the child a monthly aid of P10,000. . . .