Internal Crediting of Collection of Internal Revenue Taxes

November 25, 2004 REVENUE MEMORANDUM ORDER NO. 49-04 SUBJECT : Internal Crediting of Collection of Internal Revenue Taxes TO : All Internal Revenue Officers and Others Concerned This Revenue Memorandum Order is issued to clarify and reiterate policies and guidelines on the proper crediting of collection of internal revenue taxes. Policies/Guidelines WHERE COLLECTION TYPE OF TAX SHOULD BE CREDITED 1. a. Collection of taxes on regularly To the Revenue District Office filed returns (Income Tax, VAT, (RDO)/Large Taxpayers District Percentage Tax, Documentary Office (LTDO) where the taxpayer is Stamp Tax as well as taxes paid registered. under the withholding tax system) except excise tax. b. Collection of Excise Tax To the Large Taxpayer Service/LTDO where the goal for excise tax is allocated. 2. Collection of taxes on One-Time- Transactions (ONETT) a. Final Capital Gains Tax on Sale of To the RDO where the property is Real Properties considered as located. capital assets. b. Expanded Withholding tax on Sale -same- of Real Properties considered as Ordinary Assets. c. Documentary Stamp Tax related to -same- the sale of Real Properties. d. Capital Gains tax on the Net To the RDO where the seller is Capital Gains on Sales of Shares registered. of Stocks not traded in the Stock Exchange. e. Documentary Stamp Tax on the -same- Sales of Shares of Stocks. f. Donors Tax To the RDO where the donor is a resident. g. Estate Tax To the RDO where the decedent was residing at the time of death. Please be guided accordingly. (SGD.) GUILLERMO L. PARAYNO, JR. Commissioner of Internal Revenue