Memoranda of the Central Bank of the Philippines to Authorized Banks regarding the Use of Revenue Tax Receipts (RTRs)

March 4, 1977 REVENUE MEMORANDUM CIRCULAR NO. 07-77 SUBJECT : Memoranda of the Central Bank of the Philippines to Authorized Banks regarding the Use of Revenue Tax Receipts (RTRs) TO : All Internal Revenue Officers and others concerned In connection with the implementation of the Revenue Tax Receipt (RTR) System of payment of internal revenue taxes through authorized banks, there are quoted hereunder the circulars released by the Central Bank of the Philippines on the matters for your guidance. "Bangko Sentral ng Pilipinas (CENTRAL BANK OF THE PHILIPPINES) MAYNILA, PILIPINAS OFFICE OF THE GOVERNOR "MEMORANDUM TO AUTHORIZED AGENT BANKS "With reference to Memorandum to Authorized Agent Banks No. 9 dated February 15, 1977, please be advised that the printing of REVENUE TAX RECEIPTS (RTR) will be finished in time to meet the needs of the Central Bank and the Bureau of Internal Revenue. "Accordingly, the implementation of Central Bank Circular No. 554 dated February 3, 1977 is hereby made effective March 1, 1977. (SGD.) G. S. LICAROS Governor February 25, 1977 (MAAB NO. 14)" "Central Bank of the Philippines MANILA OFFICE OF THE GOVERNOR "MEMORANDUM TO AUTHORIZED AGENT BANKS "In order to help the offices of the Bureau of Internal Revenue to accommodate late filers of individual/corporate/business income tax returns, commercial banks where there are authorized deputies of the Commissioner of Internal Revenue stationed, are hereby authorized to remain open up to six o'clock in the evening beginning March 1 to 15 and April 1 to 15, 1977, to facilitate filing of said income tax returns and payment of corresponding taxes. "Likewise, to give time and opportunity to taxpayers who cannot file their income tax returns during working days, these banks are authorized to open on Saturdays (March 12 and April 2, 1977) preceding the deadlines from 8:00 A.M. to 12:00 noon. "Please be guided accordingly. (SGD.) G. S. LICAROS Governor (MAAB NO. 16) March 1, 1977" "Bangko Sentral ng Pilipinas (CENTRAL BANK OF THE PHILIPPINES) MAYNILA, PILIPINAS OFFICE OF THE GOVERNOR "MEMORANDUM TO AUTHORIZED AGENT BANKS "With reference to Memorandum to Authorized Agent Banks No. 16 dated March 1, 1977, please be advised that with the implementation of Central Bank Circular No. 554 effective March 1, 1977, savings and mortgage banks, stock savings and loan associations, development banks, Development Bank of the Philippines and Land Bank of the Philippines, in addition to commercial banks, are authorized to remain open up to 6:00 o'clock in the evening beginning March 1 to 15 and April 1 to 15, 1977. "With reference to Memorandum to Authorized Agent Banks No. 14 dated February 25, 1977, please be advised that in cases of non-availability of Revenue Tax Receipts (RTR), authorized agent banks previously authorized under Central Bank Circular Nos. 296, 314, 335, 336, and 425 may accept payments from the taxpayers under the previous procedures of collecting internal revenue taxes. (SGD.) G. S. LICAROS Governor March 1, 1977 (MAAB NO. 17)" The subject matters of the circular are outlined hereunder:" 1. The RTR System became effective on March 1, 1977. 2. In case of non-availability of Revenue Tax Receipts (RTRs), authorized agent banks previously authorized under Central Bank Circular Nos. 296, 314, 335, 336, and 425 (TPAO System) may accept payments from taxpayers under the previous procedures of collecting internal revenue taxes. 3. Banks and other financial institutions authorized by the Central Bank of the Philippines to receive payments of internal revenue taxes are authorized to remain open up to 6:00 P.M. beginning March 1 to March 15 and April 1 to April 15 to facilitate the payment of income taxes. Likewise, the said banks are authorized to open on Saturdays (March 12 and April 2, 1977) from 8:00 A.M. to 12:00 Noon. All authorized officers of regional offices are hereby enjoined to see to it that they have enough supply of RTRs and TPAOs which are available in the Central Office and will be delivered upon requisition. They are also enjoined to give as wide a publicity as possible of the contents of this circular. aisa dc EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-P4519-S2828-A-8