RMC No. 87-2016 — Clarifies that obtaining information from taxpayers pursuant to an exchange of information request from a Tax Treaty Partner is exempt from the application of RMC No. 70-2016

FURTAU OF ISTERNAL RENY U FECORDE MGT. DYVEO

BUREAU OF INTERNAL REVENUF REPUBLIC OF THE PHILIPPINES DePArTMEnt oF FinAnCe AUc 15 2016 77 3:08P.M. Mo

RECEIVTA

August 15, 2016

REVENUE MEMORANDUM CIRCULAR NO. 07- 301a

SUBJECT: Clarifying that Obtaining Information from Taxpayers Pursuant to an Exchange of

Information Request from a Tax Treaty Partner is Exempt from the Application of Revenue Memorandum Circular (RMC) No. 70-2016.

TO All Revenue Officials and Employees

This Circular further clarifies Revenue Memorandum Circular (RMC) No. 70-2016.

The Philippines, being a member of the Global Forum on Transparency and Exchange of Information (EOI) for Tax Purposes, adheres to the international standard of timely responding to an EOI request within 90 days through the EOI Section of the International Tax Affairs Division. An EOI request is essentially not aimed at domestic tax liabilities. Consequently, EOI processes. including access to information of taxpayers' records as provided under RM0 No. 2-2013 and RMO No. 3-2013, are exempted from the application of RMC No. 70-2016.

All revenue officials and employees are hereby enjoined to give this Circular as wide a publicity as possible.

A

CAESAR R. DULAY Commissioner of Internal Revenue

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