Approval of Reports of Review Committees Under LOI 308

December 10, 1975 REVENUE MEMORANDUM CIRCULAR NO. 41-75 SUBJECT : Approval of Reports of Review Committees Under LOI 308 TO : Revenue Service Chiefs, Regional Directors, Chiefs of Divisions, Revenue District Officers and Others Concerned For the information and guidance of all concerned, there is quoted hereunder the memorandum of the undersigned to the Deputy Commissioner, dated December 9, 1975, regarding approval of recommendations of the National or Regional Review Committees for the settlement by compromise of delinquent accounts: "For purposes of Letter of Instructions No. 308, and in accordance with the second sub-paragraph of paragraph 5 of Revenue Memorandum Order No. 45(A)-75, you are hereby requested and authorized to sign and approve, or otherwise direct such other appropriate action on, the recommendations of Regional Review Committees for the settlement by compromise of delinquent accounts where the total tax liability in each case as the term is defined in Revenue Memorandum Order No. 50-75 is more than P5,000 but not more than P20,000. As usual where the total tax liability in each case exceeds P20,000.00 (national accounts) the approval of compromise settlements recommended by the National Review Committee shall be made by the undersigned after the same is coursed thru you as prescribed in the second paragraph of the topic 'V. Routing' of Revenue Memorandum Order No. 45-75. Please be guided accordingly." Under Revenue Memorandum Order No. 50-75, dated August 29, 1975, the term "total tax liability" shall be understood to mean the total amount due as stated in the final assessment notice and/or letter of demand. All concerned are hereby advised to be guided accordingly. EFREN I. PLANA Acting Commissioner of Internal Revenue TAN-1456-040-3