RMC No. 71-2004 — Prescribes the mandatory availment of the Electronic Filing and Payment System and mandatory Electronic Submission of Summary List of Sales and Purchases and Annual Alphalist of Income Payees and Taxes Withheld Digest | Full Text

REPUBLIKA NG PILIPINAS KAGAWARAN NG PANANALAPI KAWANIHAN NG RENTAS INTERNAS October 15, 2004 REVENUE MEMORANDUM CIRCULAR NO. 71-2004 SUBJECT: Mandatory Availment of the Electronic Filing and Payment System (EFPS) and Mandatory Electronic Submission of Summary List of Sales and Purchase and Annual Alphalist of Income Payees and Taxes Withheld TO : All Internal Revenue Officers and Others Concerned I. Objectives Pursuant to the provisions of Revenue Regulations (RR) No. 5-2004 dated April 26, 2004 amending RR Nos. 9-2001, 2-2002, 9-2002 and 26-2002, this Circular is issued to: 1. Make it mandatory for all Insurance Companies and Stock Brokers to avail of the EFPS in filing their tax returns and the payment of taxes due thereon. 2. Make it mandatory for all taxpayers enrolled under the EFPS to electronically submit summary list of sales and purchases as well as Annual Alphalist of Income Payees and Taxes Withheld. II. Scope The following taxpayers groups shall electronically file applicable returns: 1. Insurance Companies - All insurance companies who are duly registered with the Securities and Exchange Commission and licensed as such under the Insurance Commission, not otherwise covered as Large Taxpayers or as top 10,000 taxpayers. 2. Stock Brokers - All stock brokers duly registered with the Securities and Exchange Commission not otherwise considered as Large Taxpayers or covered as top 10,000 taxpayers.

III. Policies 1. All taxpayers mentioned above shall make use of EFPS in filing their returns and in paying taxes due thereon. The returns referred to here are the returns available for e-filing as listed in Item 2.12 of Section 2 of RR 9-2001 as amended by RR No. 5-2004. Returns of said taxpayers shall include those of their branches, provided they are located in computerized revenue district offices. 2. For purposes of complying the staggered filing scheme provided for under Revenue Regulations No. 26-2002, the Insurance Companies shall belong under Group A while Stock Brokers shall belong to Group E. 3. All taxpayers covered by EFPS shall electronically submit their Summary List of Sales and Purchases and Annual Alphalist of Income Payees and Taxes Withheld. IV. Effectivity 1. For taxpayers newly covered by EFPS, this Order shall apply to e-returns of insurance companies and stock brokers to be filed starting December 20, 2004. 2. For e-submission, this Circular shall apply to: a. Summary List of Sales and Purchases to be filed starting with quarter ending September 30, 2004. b. Annual Alphalist of Income Payees (Taxes Withheld on Compensation) and Annual Alphalist of Income Payees Subjected to Final Withholding Taxes (part of BIR Form 1604CF) to be filed Starting January 31, 2005. c. Annual Alphalist of Income Payees Subject to Creditable Withholding Taxes (part of BIR Form 1604E) to be filed starting March 1, 2005. For strict implementation. (Original Signed) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue