RMC No. 15-2013: Publishes and implements pertinent provisions of Resolution No. 9476 issued by the Commission on Elections (COMELEC) on June 2012

Summary

RMC No. 15-2013 publishes and implements provisions of COMELEC Resolution No. 9476 on campaign finance and disclosure for the May 2013 elections, and sets BIR registration, receipting and record rules for candidates and political parties.

Key points

1. Record duties under the Resolution. Under Section 1 of Rule 7, candidates, party treasurers and persons acting for them issue a receipt for every contribution and keep receipts for expenditures. They keep full records and preserve them for at least three years after the election.
2. Parties and party-list groups. They obtain a Tax Identification Number, register with the BIR, issue Official Receipts (ORs) and withhold taxes under RR No. 8-2009. Registration is with the RDO over their Head Office or principal office and continues to subsist.
3. Individual candidates. Upon filing the certificate of candidacy, candidates register or update their BIR registration with the RDO over the political subdivision where they seek election, or otherwise over their principal residence or registered address. This registration ends automatically 30 days after the election.
4. Books and receipts. Candidates and parties keep books such as a Cash Receipts Journal and Cash Disbursements Book. ORs are registered with the RDO and issued at least in duplicate for every contribution in cash or in kind, with the original going to the contributor, and in-kind contributions valued at cash equivalent or fair market value.
5. BIR-printed Non-VAT ORs. RDOs may issue BIR-printed Non-VAT ORs to registered individual candidates without an Authority to Print. Candidates account for them and surrender unused ones to the RDO within 10 days after the election.

Who is affected

• Candidates for local or national positions
• Political parties and party-list groups

Deadlines and effectivity

• Candidate registration ends 30 days after the election
• Surrender of unused ORs: within 10 days after the election
• Records kept at least 3 years after the election

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.