Revised Implementing Rules and Regulations to Section 26 of R.A. 6847 (PSC Charter)

November 8, 2000 BIR RULING [DA-386-00] MEMORANDUM FOR : Director Lucille Ortille Social Policy Officer Presidential Management Staff Malacaang FROM : Lilian B. Hefti Deputy Commissioner Legal & Inspection Group Bureau of Internal Revenue SUBJECT : Revised Implementing Rules and Regulations to Section 26 of R.A. 6847 (PSC Charter) Pursuant to your Fax Transmittal Sheet relative to the above subject-matter, we hereby submit hereunder our comment/recommendation thereon, viz: The BIR has no objection to the proposal regarding the procedures to be complied with by Racing Club on the taxes to be collected on horse races during special holidays, as mandated under Section 3.b (2) (a) & (b) of the proposed regulations. The procedure under par. (a) ensures that all taxes collected during each special holiday are deposited with the proper government authorized depository bank for the account of the BIR. On the other hand, par. (b) thereof conforms with the procedures recommended by this office on November 25, 1998 concerning the submission to the BIR of the statement of taxes collected on horse races on each special holiday together with the validated returns where the taxes were collected. cHaICD We suggest however, to rephrase Section 3.(b)(3) of the proposed regulations to read as follows: "(3) Bureau of Internal Revenue (BIR). a) The BIR, AFTER RECEIPT OF THE STATEMENT OF VALIDATED RETURNS FROM THE CONCERNED RACING CLUB shall verify that all the taxes collected on each special holiday have been remitted through the Bangko Sentral ng Pilipinas special clearing account to the Bureau of the Treasury. (b) The BIR shall prepare the certification on all such taxes collected and remitted to the Bureau of the Treasury and transmit the same to DBM within twenty (20) days. UPON VERIFICATION OF THE TAX PAYMENT , copy furnished the PSC. (SGD.) LILIAN B. HEFTI Deputy Commissioner Legal & Inspection Group