Inclusion of the Land Bank of the Philippines Among the Banks Allowed to Accept Payment of Internal Revenue Taxes

April 24, 1975 REVENUE MEMORANDUM CIRCULAR NO. 08-75 SUBJECT : Inclusion of the Land Bank of the Philippines Among the Banks Allowed to Accept Payment of Internal Revenue Taxes TO : All Internal Revenue Officers and Others Concerned In connection with the acceptance of payments of internal revenue taxes by authorized commercial banks and the Development Bank of the Philippines as provided for in Executive Order No. 206 of the Office of the President of the Philippines, you are hereby informed that the Land Bank of the Philippines is now authorized to accept payments of internal revenue taxes in accordance with the letter of the Deputy Governor of the Central Bank of the Philippines to the President of the Land Bank which is quoted hereunder: "OFFICE OF THE DEPUTY GOVERNOR Domestic Operations Sector April 16, 1975 "Mr. Basilio Estanislao President Land Bank of the Philippines 6th Floor B. F. Condominium Bldg. Intramuros, Manila "Dear Mr. Estanislao, "This has reference to your request for authority to accept payment of internal revenue taxes as provided for under Executive Order No. 206 of the President of the Philippines and Central Bank Circular No. 296, series of 1970. "Please be informed that since your bank performs commercial banking functions, maintains a demand deposit account with the Central Bank, and considered as an authorized agent bank of the Central Bank, you may accept payments of internal revenue taxes as provided for under Central Bank Circular No. 296, series of 1970, as amended by Central Bank Circular No. 335 dated December 28, 1971. "Kindly send a representative to our Revenue Collection Office for appropriate briefing on the mechanics of the collection of internal revenue taxes thru the banking system." "Very truly yours, (SGD.) R. MARINO CORPUS Deputy Governor Domestic Operations Sector" Accordingly, all those concerned are hereby advised that if the taxpayer choses to pay his internal revenue taxes in the Land Bank of the Philippines including its branches, then the Authority to Accept Payment (TPAO) should be prepared in accordance with the wishes of the taxpayer. All those concerned are enjoined to be guided accordingly. MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5