RMC No. 127-2016 — Lifts the suspension of effectivity of certain revenue issuances covered by RMC No. 69-2016

BUREAU OF INTERNAL REVENUE Republic of the Philippines Department of Finance

November 15. 2016

REVENUE MEMORANDUM CIRCULAR NO./27- D/

SUBJECT: Lifting of Suspension of Effectivity of Certain Revenue Issuances Provided

Under Revenue Memoradum Circular No. 69-2016 dated July 1. 2016

TO : All Internal Revenue Officers and Others Concerned

revenue issuances promulgated within the period covering June 1 to 30. 2016 has been suspended Pursuant to Revenue Memorandum Circular (RMC) No. 69-2016. the effectivity of all

After further careful review and consideration of the revenue issuances covered by RMC No. 69-2016. the suspension of the following revenue issuances is hereby lifted:

RMC No. 61-2016 Revenue Memorandum Circuiar (RMC) Prescribing Policies and Guidelines Titte/Description of RMC for

RMC No. 62-2016 Clarification on Proper Tax Treatment of Involving "Netting" or "Offsetting" Passed-on Gross Receipts Tax Accounting and Recording Transactions

issuances. the same shall be effective immediately Consequently. with the lifting of suspension of the effectivity of the foregoing revenue

Accordingly. all revenue officials and employees are hereby enjoined to give this issuance a wide publicity as possible.

For strict compliance.

RECORDS MGT MVSION BUREAU OF JNTERNAL REVENUE a

DEC 0 2205/ 3011 Commissioner ot "AESAR R. DULAY internal Revenue

RECKIVWK