RMO No. 37-2007: Amends RMO No. 7-2007 relative to the allocation of the CY 2007 BIR goals by implementing office and finalizes the CY 2007 BIR collection goal by implementing office

Summary

RMO No. 37-2007 amends RMO No. 7-2007 on the allocation of CY 2007 BIR goals by implementing office, and finalizes the CY 2007 BIR collection goal by implementing office.

Key points

1. Why tables were amended. Certain tables of RMO No. 7-2007 changed because the BIR and DBCC projections of CY 2007 monthly revenue trends differed, and updated First Semester CY 2006 collections from large taxpayers moved from revenue regions to the Large Taxpayers Service were not considered.
2. Data used. The revised monthly targets use the DBCC’s CY 2007 monthly revenue program for the BIR and updates on January to June 2006 collections from taxpayers delisted from or transferred to revenue regions.
3. Quarterly targets. The BIR CY 2007 quarterly targets must be followed to conform with the national fiscal program. Regional offices prepare the final quarterly goal allocation by district and tax type, while the LT Programs Division coordinates the revision for the LTS.

Who is affected

• Regional offices
• Large Taxpayers Service

Deadlines and effectivity

• Applies to CY 2007 goals

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