RMO No. 15-2006: Prescribes the policies and procedures in the implementation of special revalidation covering all outstanding Tax Credit Certificates issued by the BIR and those jointly issued by the One-Stop Shop inter-agency tax credit and Duty Drawback Center and the BIR

Key points

1. Old TCCs cancelled. Effective August 1, 2006, all outstanding TCCs are deemed retired, recalled or cancelled and are no longer accepted as tax payment. Holders must surrender them for replacement with a new TCC (Form 2310, revised June 2006) from August 1, 2006 to December 31, 2006.
2. No use without revalidation. From August 1, 2006, the BIR recognizes no utilization, transfer or conversion of a TCC that has not been specially revalidated. No request for special revalidation is accepted after December 31, 2006.
3. New forms and issuing offices. Old TCC forms 2310 and 2320 and Tax Debit Memo forms 2311 and 2321 are discontinued, and unused stock goes to the Chief, Accountable Forms Division. New forms with enhanced security features are issued from August 1, 2006, and only the heads of the listed TCC and TDM issuing offices may requisition them.
4. How to apply. The holder files a letter request with the issuing office, with two notarized application forms, the original TCC and one photocopy, and TDM photocopies if the TCC was partially used. The replacement is not released until an updated delinquency verification shows no unprotested tax liability, and any outstanding liability must be settled by cash or TDM.
5. Pending requests. Claims, transfers, regular revalidations, utilization requests and cash conversion requests filed before August 1, 2006 and still pending follow existing procedures. Those TCCs are not covered by special revalidation, and the taxpayer is advised to apply for it afterward in the case of pending utilization.

Who is affected

• Holders of outstanding TCCs, whether unutilized or partially utilized
• TCC and TDM issuing offices

Deadlines and effectivity

• Effective August 1, 2006
• Surrender and replacement from August 1, 2006 to December 31, 2006
• No special revalidation requests after December 31, 2006
• Inventory report on old forms not later than August 25, 2006