RMO No. 25-2000 — Creates a Task Force to gather information and statistical data on certain industries for use of the Congressional Sub-Committee Hearing on Ways and Means in Aid of Legislation Digest

REVENUE MEMORANDUM ORDER NO. 25-2000 issued August 4, 2000 creates a Task Force to gather information and statistical data on certain industries for use of the Congressional Subcommittee Hearing on Ways and Means in aid of Legislation. The Project will cover companies falling under the following industries: a) telecommunications; b) pre-paid card providers; c) manufacturer of semi-conductor devices and other electronic components; d) banks, financing and pre-need companies; and e) airlines and shipping. The Task Force shall request from the LT Document Processing and Quality Control Division and the corresponding Revenue District Offices all the relevant tax data or copies of the tax information returns of the identified companies for taxable year 1999. The analysis and evaluation of information will cover the following areas: a) gross profit ratio of each company and the standard gross profit ratio for the particular industry; b) compliance to applicable tax laws of each company and of the industry as a whole; c) industry issues; and d) possible areas with tax potential.