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(NAR) VOL. 11 NO.1 / JANUARY – MARCH 2000

[ BOC MEMORANDUM CIRCULAR NO. 56-2000, January 21, 2000 ]

TAX CREDIT CERTIFICATE AND TAX DEBIT MEMOS ISSUED BY ONE-STOP SHOP INTER-AGENCY TAX CREDIT AND DUTY DRAWBACK CENTER, DEPARTMENT OF FINANCE



Attached is a Memorandum dated January 18, 2000 from DOF Undersecretary Solomon S. Cua citing problems encountered by the Tax Debit Memo Division of the One-Stop Shop Inter-Agency Tax Credit and Duty Drawback Center at the Department of Finance, as follows:

1.         Non-posting of the last transactions/payments at the back of the TCC being applied for TDM

2.         Over application of TDM

3.         Non-attachment of the page showing the last balance of the TCC

4.         Failure of the authorized officer to countersign the postings indicating the amount actually used at the back of the TCC

To forestall the commission of the above, the following instruction of Undersecretary Cua should be strictly observed:

1.         Regular posting of the last transactions/payments at the back of the TCC

2.         Utilization/application of the TCC only up to the amount of the TDM granted by the said One-Stop Shop

3.         Signature of the authorized officer accepting payments (in the port of entry) at the back of the TCC

It is advised further that the Chief, Collection Division/Unit should closely supervise and counter-initial the posting of the transaction/COR at the back of the TCC.

All concerned shall be guided accordingly.

Adopted: 21 Jan. 2000

(SGD.) EMMA M. ROSQUETA
Deputy Commissioner Revenue Collection Monitoring Group

MEMORANDUM

TO       :           Commissioner Ramon J. Farolan Bureau of Customs

FROM :           Undersecretary Solomon S. Cua

SUBJECT :           Problems Encountered on TDM Applications

The Tax Debit Memo Division of the One-Stop Shop Inter-Agency tax Credit and Duty Drawback Center has brought to my attention the following problems normally encountered in relation to the applications for TDM filed with this Division:

1.         Non-posting of the last transactions/payments at the back of the TCC being applied for TDM.

2.         Over application of TDM.

3.         Non-attachment of the page showing the last balance of the TCC.

4.         Failure of the authorized officer to countersign the postings indicating the amount actually used at the back of the TCC.

In view of this, may we reiterate our request for the following:

1.         Regular posting of the last transactions/payments at the back of the TCC and attachment of the page showing the latest balance of the TCC.

2.         Utilization/application of the TCC only up to the amount of the TDM granted by the said Office.

3.         Signature of the authorized officer accepting payments at the back of the TCC.

Thank you.

(SGD.) SOLOMON S. CUA

 

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