Regular and Prompt Submission of the Monthly Report of Bangko Sentral ng Pilipinas (BSP) Payments through Credit Advice by the Revenue District Offices (RDOs)

December 27, 2013 REVENUE MEMORANDUM CIRCULAR NO. 010-14 SUBJECT : Regular and Prompt Submission of the Monthly Report of Bangko Sentral ng Pilipinas (BSP) Payments through Credit Advice by the Revenue District Offices (RDOs) TO : All Internal Revenue Officials, Employees and Others Concerned This Circular is being issued to emphasize the duties and responsibilities of the RDOs in the regular and prompt submission of the Monthly Report of BSP Payments through Credit Advice to the Revenue Accounting Division (RAD), in compliance with Revenue Memorandum Circular (RMC) No. 31-2004 dated April 21, 2004, as well as with the audit observations/recommendations of the COA-BIR Resident Auditor. ASHECD Relative thereto and in order to properly/effectively monitor and reconcile the Monthly Report of BSP Payments through Credit Advice with the Monthly Summary Listing of BSP Credit Advices received from the BSP, strict compliance by all RDOs with the policies and guidelines prescribed in aforementioned RMC is hereby reiterated, the details of which are as follows: "Section C.2 xxx xxx xxx a. Receive the tax return from BSP with the attached BSP Credit Advice; b. Include the collection from the BSP in their Monthly Statistical Report (BIR Form No. 12.09); c. Submit a Monthly Report of BSP Payments through Credit Advice (Annex "C") to the Collection Service , Attention: Revenue Accounting Division every 10th day of the month." All internal revenue officials and employees are hereby enjoined to be guided accordingly and give this Circular as wide a publicity as possible. (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue ANNEX C Monthly Report of BSP Payment through Credit Advice