This session will address matters including, but not limited to, the following: • The provisions resulting in a taxpayer becoming a provisional taxpayer, as well as the exclusions from such definition • The process of first, second and third payments: o The basic rules governing the determination and payment of provisional taxes o Clarifying the concept of the “basic” amount o Interest and penalties for late and under payments o Administrative process of submission and payment • Brief overview of the view on provisional taxes from an auditing perspective, as well as other matters of relevance