Summary
RMC No. 31-2004 informs BIR officials and others concerned that the Bangko Sentral ng Pilipinas (BSP) is implementing its Checkless Payment System and may pay internal revenue taxes by direct credit.
Key points
- Payment method. The BSP may pay all its internal revenue taxes nationwide by directly crediting the account of the Treasurer of the Philippines.
- Filing and proof. The BSP files its tax returns with the attached Direct Credit Advice as proof of payment, at the Revenue District Offices having jurisdiction over the transaction or collection.
- Monthly listing. The BSP also gives the Bureau’s Collection Service, Attention: Revenue Accounting Division, a Monthly Salary Listing of all direct credit advice issued, for monitoring and reconciliation.
Who is affected
- Bangko Sentral ng Pilipinas
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.