RMO No. 39-2003: Reiterates the guidelines on the processing of utilization of DOF-issued Tax Credit Certificates

Summary

RMO No. 39-2003 reiterates the guidelines on processing the utilization of Department of Finance (DOF)-issued Tax Credit Certificates (TCCs) and prescribes counter-measures to detect fraud.

Key points

1. Tax Debit Memo required. No DOF-TCC is processed for utilization without the Tax Debit Memo (TDM) issued by the One Stop-Shop Duty Draw Back Center, attached to the application for BIR-Tax Debit Memo. TCC usage is limited to the amounts on the TDM issued and approved by the Center.
2. Signatures on the TCC. The signature of the authorized officer accepting payments must appear at the back of the TCC, as well as the last transaction or payment.
3. Checks by issuing officers. Every TDM issuing officer must ask for the duly issued DOF TDM before issuing a BIR TDM on any DOF-issued TCC.
4. Checks by collection offices. All collection offices, Revenue District Offices, Large Taxpayers District Offices and LT Assistance Divisions must check that taxpayers paying with a TCC have the corresponding TDMs before the payment is presented.

Who is affected

• TDM issuing officers
• Collection offices, RDOs, LT District Offices and LT Assistance Divisions
• Taxpayers using DOF-issued TCCs

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