RMC No. 40-2020 — Publishes the full text of the Implementing Rules and Regulations of RA No. 11256 (An Act to Strengthen the Country’s Gross International Reserves, Amending for the Purpose Sections 32 and 151 of the National Internal Revenue Code, as Amended, and for Other Purposes) Digest | Full Text | Implementing Rules and Regulations

REPUBUIC OF THE PHILIPPINES

BUREAUOF INTERNAL REVENUE DEPARTMENT OF FINANCF

National Office Quezon City April 6, 2020

REVENUE MEMORANDUM CIRCULAR NO.40-2020

SUBJECT Publishing the full text of the Implementing Rules and Regulations of Republic Act No.11256,also Known as "An Act to Strengthen the Country's Gross International

Reserves,amending for the Purpose Sections 32 and 151 of the National Internal Revenue Code (NIRC), As Amended, and for Other Purposes"of the Department of Finance (DOF)

TO All Internal Revenue Officers and Others Concerned

For the information and guidance of all internal revenue officers,employees and others concerned attached is the full text of the Implementing Rules and RegulationsIRR of Republic Act No.11256.also known as An Act to Strengthen the Country's Gross international Reserves. amending for the Purpose Sections 32 and 151 of the National Internal Revenue Code (NiRC),As Amended,and for Other Purposes of the Department of Finance(DOF

All internal revenue officers,employees and others concemed are hereby enjoined to give this Circular as wide as publicity as possible.

Commissioner of Intermal Revenue CAESAR R.DULAY

033826

APR 08 2020 ON

12:40 PM

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