Summary
RMC No. 31-2012 reiterates the policies and guidelines on computing penalties for dishonored checks, as provided under Sections II and III of RMO No. 19-2007.
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Key points
- Section 275 penalty. Section 275 of the NIRC of 1997, as amended, covers violations of the Code or of Department of Finance rules with no specific penalty. Upon conviction for each act or omission, it provides a fine of not more than One Thousand Pesos (P1,000) or imprisonment of not more than six (6) months, or both.
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.