Clarification on the Types of Checks Accepted for Payment for One-Time Transaction-Related Internal Revenue Taxes
This Circular is hereby issued to clarify the types of checks accepted in payment for One-Time Transaction (ONETT) – related internal revenue taxes, pursuant to Revenue Memorandum Order (RMO) No. 49-2018, as amended.
Section II of Revenue Memorandum Circular No. (RMC) No. 4- 2021 provides guidelines for payments of taxes through Authorized Revenue Collection Officers (RCOs), citing RMO No. 8-2009 as follows:
“4. The Issuance of RORs shall be limited to tax payments, in cash not exceeding the amount of twenty thousand pesos (Php 20,000.00) per return. However, there shall be no limit on the amount if payment is made thru checks.The following checks should be accepted in payment for internal revenue taxes:1. Manager’s or Cashier’s Checks;2. Checks drawn against a joint or multiple account for the purpose of tax payment of the personal tax liability of any of the members thereof provided that the name and TIN of the paying member/s shall be indicated on the back/face of the check;3. Checks drawn against the personal account of the owner of a single proprietorship in payment of the tax liability of his/her business;4. Checks drawn against the account of a single proprietorship in payment of the tax liability of the owner provided that the name and TIN of the owner are indicated at the face/back of the check;5. Checks issued by either of the spouses to pay their income tax liabilities.”
In relation thereto, this Office clarifies that for ONETT-related taxes, taxpayers may make payments over the counter using either cash or check at any Authorized Agents Banks (AABs) or RCOs. However, RCOs, can only accept cash payments up to twenty thousand pesos (P20,000.00). For payments by check, both AABs and RCOs are directed to accept only Manager’s or Cashier’s Check regardless of the amount to standardize the requirements and expedite the verification processes.
REPUBLIC ACT NO. 12066 – CREATE MORE ACT
Revenue Memorandum Circular No. 115-2024
Revenue Memorandum Circular No. 113-2024
8 Features of Republic Act No. 12023 – VAT on Digital Services Law Philippines
Republic Act No. 12023 – VAT on Digital Services Philippines
7 Features of Staff Leasing in the Philippines
Revenue Memorandum Circular No. 109-2024
Live Weninar: How to analyze Financial Statements Accounting for Correct Business Decision Making?
Onsite Training: Basic Bookkeeping for Non-Accountants
Live Webinar: SEC Dividend Declarations
Live Webinar: Returns and Reports Preparation under eBIR Forms and Online Submissions
Live Webinar: Value Added Tax: In and Out
Onsite Seminar: BIR Examination: Their Procedures and Our Defenses
Live Webinar: Ease of Paying Taxes Highlights with CPD Credits
Live Webinar: Input VAT Refund
Live Webinar on Ph Payroll Computations and Taxation
Live Webinar: Understanding Invoices and Invoicing under EOPT with CPD Credits
Δ
Phone : (02) 5310-2239
Mobile : Smart: 0939-916-2952 Globe: 0967-497-4989
Email : info(@)taxacctgcenter.ph
© Tax and Accounting Center 2024. All Rights Reserved