Summary
RMC No. 16-2004 publishes the full text of Bank Bulletin No. 2003-11 on payment of internal revenue tax through Tax Debit Memo.
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Key points
- Not acceptable as payment. Under Revenue Regulations No. 16-2002, the Department of Finance-Tax Debit Memo (DOF-TDM) and the original copy of the Tax Credit Certificate (TCC) are not acceptable modes of payment of internal revenue taxes.
- Conversion to a BIR TDM. A DOF-TDM and a TCC become acceptable only after conversion into a BIR TDM, which is a BIR Form No. 2311 revised in November 1996.
- Who signs the BIR TDM. For Makati Revenue District Offices, the Regional Director of Revenue Region No. 8, Makati signs. The Head Revenue Executive Assistants of the Large Taxpayers Service sign for Excise and Regular Large Taxpayers. The Chief of LTDO Makati signs for large taxpayers under LTDO-Makati. The Assistant Commissioner, Collection Service signs for all other TCCs.
- Excluded transactions. TDMs are not acceptable as payment of internal revenue tax liabilities for the transactions specified in the Circular.
Who is affected
- Taxpayers paying internal revenue taxes with DOF-TDMs or TCCs
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.