RMO No. 26-2015 — Amends the pertinent provisions of RMO No. 25-2011 more particularly on the remittance of proceeds from sale of loose documentary stamps collected by the designated/authorized Revenue Collection Officers, Special Revenue Collection Officers and other collecting agents Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City December 29, 2015 REVENUE MEMORANDUM ORDER NO. 26-2015 SUBJECT : Amending the Pertinent Provisions of Revenue Memorandum Order (RMO) No. 25-2011 More Particularly on the Remittance of Proceeds from Sale of Loose Documentary Stamps Collected by the Designated/Authorized Revenue Collection Officers, Special Revenue Collecting Officers and Other Collecting Agents TO : All Internal Revenue Officials, Employees and Others Concerned I. OBJECTIVES This Order is hereby issued to amend the pertinent provisions of RMO No. 25-2011 with respect to the proper remittance of the proceeds from sale of loose documentary stamps collected by the designated/authorized revenue collection officers (RCOs), special revenue collection officers (SRCOs) and other collecting agents, as well as to ensure uniform application of the policies and procedural guidelines in the accounting, reporting and recording in the books of accounts by all concerned revenue offices. II. AMENDATORY PROVISIONS The following policies, guidelines and procedures shall be strictly observed by all designated/authorized RCOs, SRCOs and other collecting agents, as well as all concerned revenue officers and officials of this Bureau, with respect to the remittance of all proceeds from sale of loose documentary stamps: 1. The concerned RCO/SRCO, before remitting the proceeds from sale of documentary stamps collected from the concerned taxpayers to the Authorized Government Depository Bank (AGDB), shall accomplish the Documentary Stamp Tax Declaration/Return (BIR Form No. 2000) and file the same using the Electronic Filing and Payment System (eFPS), without proceeding, however, to the payment module of the said system. In filing the BIR Form No. 2000, the Tax Identification Number (TIN) of the concerned Revenue District Office (RDO) created for the purpose shall be used by the said RCO/SRCO, pursuant to the provisions of RMO No. 25-2011. Accordingly, the RCO/SRCO shall secure the appropriate access to the eFPS through the submission of the duly approved prescribed form to this effect. A printed copy of the eFPS-generated BIR Form No. 2000 shall form part of the supporting documents evidencing such remittance to be maintained by the RCO/SRCO for file and future reference.

Moreover, all concerned RCOs/SRCOs who are authorized to issue electronic Revenue Official Receipts (eRORs) through the Mobile Revenue Collection Officers System (MRCOS) facility are not allowed to use the said facility in the filing of the said return and the remittance to AGDBs of the proceeds from sale of loose documentary stamps. 2. The proceeds from sale of loose documentary stamps shall be remitted by the concerned RCO/SRCO by accomplishing the depository slip required by the AGDB. The provisions of RMO No. 21-2014 shall be strictly observed by the RCO/SRCO with respect to the requirements on the time, frequency, and minimum amount for the remittance of all cash collections received and maintained under his/her custody for the day. Accordingly, all proceeds from the sale of loose documentary stamps shall ONLY be remitted/deposited with the nearest AGDB of the RDO where the concerned RCO/SCRO is duly assigned. The remittance/deposit of the said proceeds to any Authorized Agent Bank (AAB) previously prescribed under RMO No. 25-2011 shall be immediately discontinued. Moreover, the concerned RCO/SRCO shall ensure that the proceeds from sale of loose documentary stamps are separately kept and accounted for from the other cash collections under his/her custody. 3. The total daily sale of loose documentary stamps, including the inclusive serial numbers thereof, shall be strictly recorded in the Cash Receipts Record by the RCO/SRCO immediately before the end of the office hours of the day when such sale(s) was/were made, pursuant to existing revenue issuances. 4. The details of the collection and remittance of proceeds from sale of loose documentary stamps shall be encoded in the Integrated Tax System (ITS)-Collection and Bank Reconciliation System (CBRS) pursuant to the provisions of RMO No. 25-2011 or, as the case may be, in the Electronic Tax Information System (eTIS)-Collection and Remittance Reconciliation (CRR), in accordance with the provisions of the revenue issuance to be issued for the purpose. The timely encoding of the said pertinent information in the ITS- CBRS/eTIS-CRR shall be strictly observed to ensure that such collections are included in the Monthly Statistical Report of Revenue Collections (BIR Form No. 12.09). For purposes of encoding the said remittance in the ITS-CBRS/eTIS-CRR, the date reflected in the AGDB-machine validated deposit slip shall be used as the collection date to ensure that no collection discrepancy will be detected between the records of this Bureau and the Bureau of the Treasury (BTr). In case the remittance date is not compliant with the provisions of RMO No. 21-2014, the imposition of the appropriate penalties shall be strictly imposed against the erring RCO/SRCO. 5. The preparation of the "Weekly Collection from Sale of Loose Documentary Stamps" prescribed under Annex "A" of RMO No. 25-2011 and the submission thereof to the RDO shall be strictly observed by the concerned RCO/SRCO. The concerned RDO shall, in turn, prepare a monthly consolidated report thereon to be submitted to the Finance Division for recording in the books of accounts, as well as to the Collection Division for 2

reconciliation and monitoring purposes, both under the concerned Revenue Region, in accordance with existing revenue guidelines and procedures. Accordingly, the recording of the proceeds from sale of loose documentary stamps shall no longer be made by the Revenue Accounting Division to prevent the double recording thereof. Moreover, the practice of remittance/deposit of the proceeds of sale from loose documentary stamps on a weekly basis that coincides with the weekly report referred to above constitutes a violation of the provisions of RMO No. 21-2014 and the same shall likewise be discontinued. In order to account the existence of any unremitted proceeds from sale of loose documentary stamps due to differences in reported collection and remittance information between calendar week (i.e., days 1-7, 8-15, 16-22 and 23-31) and working week (i.e., Monday to Friday) reports, the same shall be clearly indicated in the aforesaid weekly report. For purposes of clarity, the title "Weekly Collection from Sale of Loose Documentary Stamps" prescribed under Annex "A" of RMO No. 25-2011 is hereby amended and shall be read as "Weekly Collection Report on Sale of Loose Documentary Stamps". III.REPEALING CLAUSE All the pertinent provisions of RMO No. 25-2011 which are inconsistent herewith are hereby repealed, modified or amended accordingly. IV. EFFECTIVITY This Order shall take effect immediately. (Original Signed) KIM S. JACINTO-HENARES Commissioner of Internal Revenue J- 3