Submission of Monthly Report of Collections on the Tax on Subsequent Sales

June 20, 1986 REVENUE MEMORANDUM ORDER NO. 17-86 SUBJECT : Submission of Monthly Report of Collections on the Tax on Subsequent Sales TO : All Regional Directors, Revenue District Officers, Collection Agents and Others Concerned In order to provide a basis for computing the 5% share of the city or municipal governments and the Ministry of Education, Culture and Sports in the collections of the 3% tax on second sale and 1.5% tax on subsequent sales as provided in PD 1991 dated October 31, 1985, and PD 2006 dated December 31, 1985, respectively, all Collection Agents in each city or municipality receiving direct payments from the taxpayers using the ROR's are hereby required to submit a separate monthly report of collections from these taxes using the attached form in addition to the regular 12.31 collection reports required of them. On the other hand, the Reconciliation Officer of every Revenue District Office shall prepare the same report for tax payments received through the accredited banks. The reports shall be submitted directly to the Assistant Commissioner for Financial and Management, Attention: Chief, Revenue Accounting Division, in two copies, on or before the 15th of the month following the end of each month. The collections involving the 3% tax on second sale as provided in PD 1991 covering the period from November 1 to December 31 shall be consolidated into one report only since it has been replaced by the tax on subsequent sales. Starting January, 1986, the collection report from the 1.5% on subsequent sales shall be prepared on a monthly basis. This method of reporting shall continue to be in effect until RISSI will be able to provide computerized data needed in computing the shares of local governments and the MECS from these tax collections. cdt This Order shall take effect immediately. (SGD.) BIENVENIDO A. TAN, JR. Commissioner