Summary
RMO No. 75-2010 sets the guidelines for preparing and submitting to the Department of Budget and Management (DBM) the certification of Excise Tax collections from minerals, mineral products and quarry resources, and the 40% share of Local Government Units (LGUs).
Key points
- Monthly certifications. The Large Taxpayers Service (LTS) and Revenue District Offices (RDOs) certify Excise Taxes collected on minerals, mineral products and quarry resources through Authorized Agent Banks and Revenue Collections Officers. They submit the certifications to the Revenue Accounting Division (RAD) within thirty (30) days after each month closes.
- Identifying extraction sites. LTS and the RDOs must properly identify where the mineral products were extracted so the DBM can release the 40% LGU shares to the right LGUs.
- Quarterly Joint Certification. The RAD prepares the Joint Certification that the DBM requires for releasing LGU shares on a quarterly basis. Collections not captured in a quarter go into the certifications for the following quarter(s).
Who is affected
- Large Taxpayers Service and Revenue District Offices
- Revenue Accounting Division
- Local Government Units sharing in collections
Deadlines and effectivity
- Monthly certification: within thirty (30) days after the close of each month
- Joint Certification: quarterly
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
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