Submission of Report of All Availments of Compromise Settlements Pursuant to RMO 45-98

July 10, 1998 REVENUE MEMORANDUM ORDER NO. 62-98 TO : All Regional Directors and Others Concerned SUBJECT : Submission of Report of All Availments of Compromise Settlements Pursuant to RMO 45-98 I. Objectives a) To determine the current status of outstanding delinquent accounts in every Revenue District Office. b) To update statistical reports on collections attendant to compromise settlement under RMO 45-98. c) To prescribe procedures for the expeditious preparation of reports of all availments of compromise settlements. II. Guidelines and Instructions All Regional Directors authorized under RMO 45-98, as Chairman of the Revenue Regional Approval Committee (RRAC), to settle by way of compromise delinquent accounts covering 1997 and prior years, shall submit an inventory of all availments of compromise settlement, the basic taxes of which do not exceed FIVE HUNDRED THOUSAND PESOS (P500,000). The report shall contain the following facts and information, among others: names, TIN and addresses of taxpayers whose cases have been the subject of compromise; total amount involved; amount compromised; percentage of the basic tax; and taxable year(s) covered. prcd The report shall classify those cases into: (a) cases involving Large Taxpayers as defined under Sec. 245 of the Tax Code of 1997; (b) cases with Warrants of Distraints and Levy; (c) cases pending in court except those involving criminal fraud. III. Repealing Clause All revenue issuances and/or portions thereof which are inconsistent herewith are hereby repealed. IV. Deadline for Submission The above reports shall be submitted to the Collection Service not later than July 30, 1998. prLL BEETHOVEN L. RUALO Commissioner of Internal Revenue