Authorizing the Remittance of National Collections to the Bureau of the Treasury thru Direct Deposits with the Philippine Veterans Bank Branches

December 17, 1973 REVENUE MEMORANDUM CIRCULAR NO. 70-73 TO : All Collection Agents, City and Municipal Treasurers acting as Collection Agents of the Bureau of Internal Revenue and Others Concerned SUBJECT : Authorizing the Remittance of National Collections to the Bureau of the Treasury thru Direct Deposits with the Philippine Veterans Bank Branches For your information, guidance and compliance, there is hereunder quoted Department Order No. 23-73 dated August 22, 1973 authorizing the remittance of national collections to the Bureau of the Treasury thru direct deposits with the Philippine Veterans Bank branches, as follows: "Department Order No. 23-73 August 22, 1973 "TO : All National Collecting Officers, The Treasurer of the Philippines and Treasury Fiscal Examiners The President of the Philippine Veterans Bank and PBV Branch Managers and Auditors Municipal, City and Provincial Treasurers City, Provincial and Bureau Auditors and Others Concerned. "SUBJECT : Authorizing the remittance of national collections to the Bureau of the Treasury thru direct deposits with Philippine Veterans Bank branches. "1. This is to supplement Department Order No. 20-73 dated June 14, 1973 which prescribed a revised system of remitting national collections to the Bureau of the Treasury thru direct deposits with Philippine National Bank branches and agencies; "2. In view of the promulgation of Presidential Decree No. 236 dated July 9, 1973 wherein the Philippine Veterans Bank was designated as a government depository and in line with the primary aim of the revised rules and regulations contained in Department Order No. 20-73 which is to expedite the inflow of national collections from the various points of collections to the Bureau of the Treasury as well as to strengthen the banking system of the country, it is therefore hereby authorized that national collecting officers remit their national collections thru direct deposits either with the Philippine National Bank branches and agencies or with the Philippine Veterans Bank branch established in the area, if any. "3. It shall be understood that all provisions of Department Order No. 20-73 applicable to the Philippine National Bank shall likewise be applicable to the Philippine Veterans Banks. "4. This Order shall take effect September 1, 1973. "(SGD.) CESAR VIRATA Secretary of Finance CONCURRED IN: "(SGD.) F. SY-CHANGCO "(SGD.) ISMAEL MATHAY, SR. Commissioner of the Budget Auditor General NOTED: "(SGD.) ESTEBAN D. CABANOS President President Veterans Bank" Please be guided accordingly. cdta MISAEL P. VERA Commissioner of Internal Revenue TAN 1601-593-5