RMC No. 38-2008 — Requires the continuous observance of the existing responsibilities by large taxpayers transferred from the supervision of Large Taxpayers Service to the Regional Offices Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City May 13, 2008 REVENUE MEMORANDUM CIRCULAR NO. 38-2008 SUBJECT : Continuous Observance of the Existing Responsibilities by Large Taxpayers Transferred from the Supervision of Large TO : Taxpayers Service to Regional Offices All Internal Revenue Officers, Employees and Others Concerned Recently, a number of large taxpayers were transferred from the supervision of the Large Taxpayers Service (LTS) to the Regional Offices. The purpose of which is to decrease the load of the LTS in a manageable level in order to effectively monitor taxpayers' tax compliance. Taxpayers affected by the delisting from the LTS' jurisdiction were sent letters notifying them of the Revenue District Office to which they now belong. These large taxpayers transferred to the Regional Offices remain to be classified as such as long as they remain to qualify under existing criteria. Hence, they are required to cont inuously observe the following: 1. File and make tax payments through Electronic Filing and Payment System (EFPS); and 2. Withhold the required withholding tax on purchase of goods and services as required from taxpayers belonging to the top 10,000 corporations, in addition to other purchases subject to withholding tax under existing revenue regulations. On the other hand, Revenue District Offices now handling these large taxpayers shall include them under the Taxpayer Account Management Program (TAMP). All revenue officials and employees are enjoined to give this Circular a wide publicity as possible. (Original Signed) LILIAN B. HEFTI Commissioner of Internal Revenue