Amending Revenue Regulations No. 17-84

December 10, 1984 REVENUE REGULATIONS NO. 23-84 SUBJECT : Amending Revenue Regulations No. 17-84 TO : All Internal Revenue Officers and Others Concerned SECTION 1 . Scope . Pursuant to the provisions of Section 47 of Presidential Decree No. 1959 and Section 326 in relation to Section 4 of the National Internal Revenue Code, as amended, these regulations are hereby promulgated to amend the manner of filing and paying the taxes so withheld on interest on deposits and deposit substitutes. 2 . Manner of Filing Return and Payment of Taxes . Section 5 of Revenue Regulations No. 17-84 is hereby amended to read as follows: "The taxes herein deducted and withheld shall be paid upon filing a return, in duplicate, with the Revenue District Officer or the Collection Agent of the city or duly authorized treasurer of the Municipality where the withholding agent's principal office is located and where its books of accounts are kept except in cases where the Commissioner of Internal Revenue allows otherwise. The required return shall be filed within ten (10) days after the end of each month." SECTION 3 . Effectivity . These regulations shall take effect on interest earned on deposits and deposit substitutes earned beginning January 1, 1985. CESAR VIRATA Minister of Finance Recommended by: RUBEN B. ANCHETA Commissioner of Internal Revenue