Reckoning Date of Recording the Tax Collections for the Different Modes of Payment

April 4, 2012 REVENUE MEMORANDUM CIRCULAR NO. 017-12 SUBJECT : Reckoning Date of Recording the Tax Collections for the Different Modes of Payment TO : All Internal Revenue Officers, Employees and Others Concerned In line with the Bureau's thrust of strengthening the process of accounting and recording revenue tax collections via the different modes of payment that were made available to the taxpayers in paying their taxes, this Circular is being issued to clarify the dates when collection transactions shall be recognized and recorded as collections by all concerned Bureau of Internal Revenue (BIR) offices in order to avoid distortion of the collection data included in the monthly reports of tax collection. TAECaD In the preparation of the Regional District Offices' respective collection reports, the following policies and guidelines on the period when the tax collections shall be rightfully claimed as collection performance shall be strictly observed: Modes of Payment Reference Date of Recording in the Bureau of Treasury (BTr) REVENUE OFFICIAL Department of Cash Payment The date when the tax RECEIPTS (RORs) Finance Order collection was actually Number 52-96 deposited with the AGDB Check Payment The date when the tax Before the AGDB's collection was actually Cut-off or Clearing deposited with the AGDB Time Check Payment The working day immediately After the AGDB's following the date when the Cut-off or Clearing tax collection was actually Time deposited with the AGDB OVER-THE-COUNTER Cash Payment The date when the tax (OTC) PAYMENTS payment was made with the WITH AABs AAB Check Payment The date when the tax Before the AAB's payment was made with the Cut-off or Clearing AAB Time Check Payment The working day immediately After the AAB's when the tax payment was Cut-off or Clearing actually made with the AAB Time ELECTRONIC FILING The date of collection indicated in the Daily AND PAYMENT Collection Report sent by the AABs to the BTr SYSTEM (EFPS) ELECTRONIC FUND The date of collection indicated in the List of TRANSFER Remittances provided by Bangko Sentral ng Pilipinas INSTRUCTION (BSPs) to the BTr and the BIR SYSTEM (EFTIS) DIRECT CREDITING The date of collection indicated in the Statement of BSP CHECKLESS Account provided by the BSP to the BTr PAYMENT SPECIAL ALLOTMENT Revenue SAROs dated in SAROs shall be treated as RELEASE ORDER Memorandum any month other collections for the month, if (SARO) Circular Number than December received by the BTr not later 59-2011 dated than the eighth (8th) working 12/02/2011 day of the following month. SAROs dated SAROs for the month of December December are those received not later than the last working day of January of the ensuing year, prior to the closing of the BTr's Books of Accounts. Otherwise, the collection shall be considered/recorded as "Prior Years' Collection". TAX REMITTANCE Revenue TRAs dated in any The date of collection is the ADVICE (TRA) Memorandum month other than date when the WCA-NGA Order Number December was stamped "Received" by 2-2007 dated the local BTr Office, a copy of 3/19/2007 which is provided to RAD every Tuesday of the following week. DTSaHI Revenue TRAs dated For TRAs dated December but Memorandum December were duly stamped "Received" Circular Number by the local BTr Office 42-2005 between January 2 to 31 of the following year, these TRAs shall be treated as December collections. However, if these TRAs were received by the BTr Head Office after the said cut-off date or after closing of the BTr's Books of Accounts, these collections shall be recognized/recorded as "Prior Years' Collection". All concerned are hereby enjoined to be guided accordingly and give this Circular as wide a publicity as possible. HISAET (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue