Authority of the Development Bank of the Philippines and its Branches to Accept Payment of Internal Revenue Taxes Under the "Tax Payment Acceptance Order System"

May 7, 1975 REVENUE MEMORANDUM CIRCULAR NO. 11-75 SUBJECT : Authority of the Development Bank of the Philippines and its Branches to Accept Payment of Internal Revenue Taxes Under the "Tax Payment Acceptance Order System" TO : To All Internal Revenue Officers and Others Concerned For the guidance of all concerned, there is hereunder quoted the letter dated March 5, 1974 of the Deputy Governor, Domestic Operations Sector, Central Bank of the Philippines, giving authority to the Development Bank of the Philippines, to accept the deposit of internal revenue collections made by collection agents of the Bureau of Internal Revenue and to accept the payment of internal revenue taxes under the " Tax Payment Acceptance Order System ", as follows: "Republic of the Philippines Central Bank of the Philippines Office of the Deputy Governor Manila" March 5, 1974 Chairman Leonides S. Virata Development Bank of the Philippines Makati, Rizal Dear Chairman Virata: This has reference to your request for authority to accept payment of national internal revenue taxes as provided for under Executive Order No. 206 of the President and Central Bank Circular No. 296, series of 1970. Please be informed that the Monetary Board, under its Resolution No. 454 dated March 1, 1974, decided as follows: "1. To consider the Development Bank of the Philippines (DBP) as an authorized agent bank of the Central Bank of the Philippines for purposes of Executive Order No. 206 of the President, dated January 9, 1970, and Central Bank Circular No. 296, series of 1970; and "2. To authorize the DBP to accept the payment of internal revenue taxes under the "Tax Payment Acceptance Order System." Kindly send a representative to the Revenue Collection Office of this Bank for appropriate briefing on the mechanics of the collection of internal revenue taxes thru authorized agent banks. Very truly yours, (SGD) R. MARINO CORPUS Deputy Governor Domestic Operations Sector" Collection Agents can issue Tax Payment Acceptance Order payable at the Development Bank of the Philippines in 1. Makati, Rizal 2. Bacolod City 3. Cagayan de Oro City 4. Cebu City 5. Davao City 6. Iloilo City 7. Naga City 8. Tacloban City 9. Tarlac, Tarlac 10. Zamboanga City Please be guided accordingly. MISAEL P. VERA Commissioner of Internal Revenue TAN-1601-593-5