RMC No. 17-2012 — Clarifies the reckoning date of recording tax collections for the different modes of payment Digest | Full Text

SUBJECT: REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE TO : BUREAU OF INTERNAL REVENUE QUEZON CITY April 04, 2012 REVENUE MEMORANDUM CIRCULAR NO. 17-2012 Reckoning Date of Recording the Tax Collections for the Different Modes of Payment All Internal Revenue Officers, Employees and Others Concerned. In line with the Bureau's thrust of strengthening the process of accounting and recording revenue tax collections via the different modes of payment that were made available to the taxpayers in paying their taxes, this Circular is being issued to clarify the dates when collection transactions shall be recognized and recorded as collections by all concerned Bureau of Internal Revenue (BIR) offices in order to avoid distortion of the collection data included in the monthly reports of tax collection. In the preparation of the Regional District Offices' respective collection reports, the following policies and guidelines on the period when the tax collections shall be rightfully claimed as collection performance shall be strictly observed: MODES OF PAYMENT REFERENCE DATE OF RECORDING IN THE BUREAU OF TREASURY (BTr) REVENUE OFFICIAL Department of Cash Payment The date when the tax Finance Order collection was actually RECEIPTS (RORs) Number 52-96 Check Payment deposited with the AGDB Before the AGDB's Cut-off or Clearing The date when the tax Time collection was actually Check Payment deposited with the AGDB After the AGDB's Cut-off or Clearing The working day immediately Time following the date when the tax collection was actually deposited with the AGDB OVER-THE-COUNTER Cash Payment The date when the tax payment (OTC) PAYMENTS WITH was made with the AAB AABs Check Payment The date when the tax payment Before the AAB's was made with the AAB Cut-off or Clearing Time The working day immediately Check Payment when the tax payment was After the AAB's actually made with the AAB Cut-off or Clearing Time ELECTRONIC FILING AND The date of collection indicated in the Daily Collection Report sent by the AABs to the BTr PAYMENT SYSTEM (EFPS) ELECTRONIC FUND The date of collection indicated in the List of Remittances provided by Bangko Sentral ng Pilipinas' TRANSFER INSTRUCTION (BSPs) to the BTr and the BIR SYSTEM (EFTIS)

MODES OF PAYMENT REFERENCE DATE OF RECORDING IN THE BUREAU OF TREASURY (BTr) DIRECT CREDITING � Revenue Memorandum The date of collection indicated in the Statement of BSP CHECKLESS Circular Number Account provided by the BSP to the BTr 59-2011 dated PAYMENT 12/02/2011 SPECIAL ALLOTMENT SAROs dated in SAROs shall be treated as any month other RELEASE ORDER (SARO) than December collections for the month, if received by the BTr not later than the eighth (8th) working day of the following month. SAROs dated SAROs for the month of December December are those received not later than the last working day of January of the ensuing year, prior to the closing of the BTr's Books of Accounts. Otherwise, the collection shall, be considered/recorded as "Prior Years' Collection". TAX REMITTANCE Revenue TRAs dated in any The date of collection is the month other than ADVICE (TRA) Memorandum December date when the WCA-NGA was Order Number 2- stamped "Received" by the local 2007 dated BTr Office, a copy of which is 3/19/2007 provided to RAD every Tuesday of the following week. Revenue TRAs dated For TRAs dated December but Memorandum Circular Number December were duly stamped "Received" 42-2005 by the local BTr Office between January 2 to 31 of the following year, these TRAs shall be treated as December collections. However, if these TRAs were received by the BTr Head Office after the said cut- off date or after closing of the BTr's Books of Accounts, these collections shall be recognized/recorded as "Prior Years" Collection". All concerned are hereby enjoined to be guided accordingly and give this Circular as wide a publicity as possible. (Original Signed) KIM S. JACINTO-HENARES Commissioner of the Internal Revenue