Summary
RR No. 2-2017 amends RR No. 3-2016 on when tax payment by credit, debit or prepaid card is deemed made and on the liability of the Authorized Agent Bank (AAB)-Acquirer for non-payment.
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Key points
- When payment is deemed made. Payment is deemed made on the date and time shown in the system-generated payment confirmation receipt that the AAB-Acquirer issues to the taxpayer-cardholder.
- Liability for late or no remittance. If the tax is remitted late or not at all despite a timely valid confirmation receipt, the AAB-Acquirer is liable for the tax. From issuing the valid receipt, it is the trustee of the government and must remit the payment to the BIR on time.
Who is affected
- Taxpayer-cardholders paying by credit, debit or prepaid card
- AAB-Acquirers
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.