Payment of Commercial Banks and Universal Banks (BANKs) for their Own Tax Liabilities

June 17, 2002 REVENUE MEMORANDUM CIRCULAR NO. 20-02 SUBJECT : Payment of Commercial Banks and Universal Banks (BANKs) for their own tax liabilities through Electronic Fund Transfer Instruction System (EFTIS) TO : All Concerned In line with the implementation of Electronic Filing and Payment System (EFPS) to Large Taxpayers under the jurisdiction of the Large Taxpayers Service (LTS) and Large Taxpayers District Offices (LTDOs) effective July 1, 2002, and for the information of all concerned, the Bureau of Internal Revenue (BIR) and Bankers Association of the Philippines (BAP) agreed that: "The Electronic Fund Transfer Instruction System (EFTIS) currently used by the BANKs in paying their own tax liabilities shall be considered as E-Payment." All internal revenue officials and employees are enjoined to give this Circular as wide a publicity as possible to all Commercial Banks and Universal Banks and others concerned. (SGD.) REN G. BAEZ Commissioner of Internal Revenue