Summary
RMC No. 107-2018 amends the second paragraph of RMC No. 43-2018 on the Fast Lane for One-Time Transactions (ONETT) involving simple transactions.
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Key points
- Processing and approval. The Group Supervisor of the Assessment Section, as Officer of the Day, processes Fast Lane ONETT. The Assistant Revenue District Officer or Revenue District Officer approves, depending on the threshold in RMO No. 55-2016.
- How to pay. Payments of Twenty-Thousand Pesos (P20,000.00) and below are paid in cash. Payments above that amount are made by Manager’s Check or Cashier’s Check to the Revenue Collection Officer (RCO).
- Deposit and verification. The RCO deposits all collections with the Authorized Government Depository Bank daily or not later than the next banking day. The RCO gives the Chief, Collection Section photocopies of the electronic Revenue Official Receipt and the deposit slip stamped Received, as the basis for verifying payment.
Who is affected
- Taxpayers availing of the Fast Lane for ONETT
Deadlines and effectivity
- Deposit daily or not later than the next banking day
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.