Amendment to RMO No. 33-96 prescribing for the Voluntary Assessment by Dealers of Petroleum Products of Deficiency Taxes for the years 1993, 1994 and 1995

March 5, 1997 REVENUE MEMORANDUM ORDER NO. 10-97 SUBJECT : Amendment to RMO No. 33-96 Prescribing for the Voluntary Assessment by Dealers of Petroleum Products of Deficiency Taxes for the Years 1993, 1994 and 1995 TO : All Internal Revenue Officers and Others Concerned This Order hereby amends and modifies paragraphs 3 and 4 of Revenue Memorandum Order No. 39-96 as follows: 3. AVAILMENT PROCEDURE a. Procedure The taxpayer-applicant shall accomplish the Voluntary Assessment Form (VAF) hereto attached as Annex "A", file the same together with the photocopies of the income tax/vat returns and financial statements previously filed, if any, and an amended income/vat returns for the period for which the voluntary assessment is made with the Revenue District Office (RDO) where the taxpayer filed his previous income tax/vat returns. cdlex All information required in the Voluntary Assessment Form must be provided by the taxpayer-applicant. Forms with incomplete data will invalidate the voluntary assessment. For Non-Pilot Districts, the Revenue District Officers (RDOs) shall accept the VAFs and prepare and issue the corresponding Authority to Accept Payment (ATAP) based on the VAF submitted by the taxpayer-applicant indicating thereon that the payment is for voluntary assessment for petroleum dealers. For Pilot Districts, the taxpayer-applicant shall accomplish the Payment Form (BIR Form No. 0605), indicating thereon that the payment is for voluntary assessment for petroleum dealers. Taxpayer-applicant shall thereafter submit a copy of the Payment Form duly acknowledged by the Accredited Agent Bank (AAB) together with the VAF, the amended returns and all the necessary documents to the Revenue District Office concern. The RDOs shall prepare the necessary request for adjustment to be submitted to the Regional Data Center (RDC), to update the taxpayer's ledger. All Revenue District Officers are required to submit a monthly list of taxpayers who availed of the program together with all the documents submitted by the taxpayer (income tax/vat returns, amended income tax/vat returns, photocopy of ATAP or Payment Form, VAF and financial statements) within five (5) days after the end of every month starting January 1997 until May 1997 to the Voluntary Assessment Committee National Office. b. Payment Scheme All amended tax returns must be filed on or before the deadline set in this Voluntary Assessment Program. cdpr If the amount due after deducting the basic tax(es) previously paid is remitted on or before the deadline set, no surcharges shall be imposed, however, the 20% interest computed from the original deadline set for filing the returns (e.g. April 15, 1994 for income tax of calendar year 1993; April 15, 1993; for income tax of calendar year 1994 and April 15, 1996 for income tax of calendar year 1995) shall still be collected. If the payment is made after the deadline set in this program, the 25% surcharge and the 20% interest computed from the original deadline set for filing the returns shall be imposed. If at least 25% of the amount due is paid at the time of filing, no surcharge shall be imposed, however, the amount to be paid and any balance still due shall be subject to the 20% interest computed from the original deadline set for filing the returns. In the event that the taxpayer opts to pay the amount due on installment, he/she shall attach a program of installment payment to the VAF filed for approval of the Voluntary Assessment Committee. 4. TIME FOR AVAILMENT OF VAP Voluntary assessments may be filed until March 15, 1997 for the year 1993 and May 15, 1997 for the years 1994 and 1995. This Order takes effect immediately. cdll LIWAYWAY VINZONS-CHATO Commissioner