Placing of the Foreign Exchange Unit under the Direct Supervision of the International Operations Division

March 29, 1968 REVENUE MEMORANDUM ORDER NO. 14-68 SUBJECT : Placing of the Foreign Exchange Unit under the Direct Supervision of the International Operations Division TO : The Revenue Operations Heads (Special Operations and Assessment), Regional Directors and Others Concerned In order to avoid duplication in the issuance of letters of authority and charges of harassment in the investigation of tax liabilities of persons and entities remitting foreign exchange abroad, as well as the recipients thereof, the Foreign Exchange Unit, which was created under Revenue Memorandum Order No. 46-67, is hereby transferred to the direct supervision of the International Operations Division. This step is taken because most of the taxpayers involved in these transactions are under the jurisdiction of the said Division for tax examination purposes. All dockets, cases, letters of authority, correspondence, and other records with the Foreign Exchange Unit shall be listed and turned over to the International Operations Division. This Revenue Memorandum Order shall be effective immediately. MISAEL P. VERA Commissioner of Internal Revenue