REPUBLIC OF THE PHILIPPINES

DEPARTMENT OF FINANCE
BUREAU OF CUSTOMS
2 spaces

MEMORANDUM

FOR : ISIDRO S. LAPEŇA, Ph.D., CSEE

Commissioner
Signature, date
of signing of
cognizant heads
THRU : Director, Collection Service________________ of offices.
District Collector, MICP___________________
Chief, Revenue Accounting Division__________ May use the
concurring line to
place comments

(Signature)
FROM :
Chief Accountant
Accounting Division
Financial Management Office

SUBJECT : Claim of ABC CORPORATION for VAT refund thru

Tax Credit amounting to Php2,205,486.72

DATE : September 11, 2017

REFERENCES:

1. Section 112 (A), in relation to Section 110 (B) of the National Internal
Revenue Code (NIRC) of 1997, as amended;

2. Section 903 of the CMTA.

BACKGROUND:
12 Pt.
Arial,
3. ABC Corporation applied for VAT credit in the form of Tax Credit single
Certificate (TCC), representing unutilized input taxes on imported space,
purchases of capital goods, goods other than capital goods and services justified
amounting to Php2,241,043.72 for the period January to December 2015.

4. It appearing that the subject claimant has no outstanding tax liabilities with
the Bureau of Internal Revenue (BIR), as certified by their Accounts
Receivable Monitoring Division, the recommendation for the issuance of a
Tax Credit Certificate in favor of ABC Corporation for the period January
1, 2015 to December 31, 2015 in the amount of Php2,241,043.72 for
imported purchases were recommended and approved by the BIR. The
claim was forwarded to the BOC for appropriate action thru the letter
dated 30 June 2017 of the Assistant Commissioner, Assessment Service-
BIR;
ACTIONS TAKEN:

5. The Office of the Commissioner indorsed the matter to the Chief, Revenue
Accounting Division (RAD) for verification of actual receipts of tax
payments, incompliance with the requirements of the Commission on
Audit (COA).

6. RAD verified and certified that the amount of Php2,205,486.72 was found
collected and remitted to the Bureau of Treasury, with reduction of
Php35,557.00 from the BIR-approved claim of Php2,241,043.72 due to
double claims and unverified payments.

7. The Liquidation and Billing Division of the Port of Discharge and the
Collection Service, Revenue Collection Monitoring Group, certified also
that the claimant has no outstanding tax liabilities with the BOC.

COMMENT/S:

8. Pursuant to the agreement executed on April 8, 1988 by and between the

BIR and BOC, a corresponding Tax Credit Certificate on the value-added
tax payments may be issued, subject to verification and further evaluation
by the BOC of the actual receipts by the government of such tax
payments, in compliance with the requirements of the Commission on
Audit (COA).

RECOMMENDATION:

9. Respectfully submitted for the Commissioner’s approval the within folder

relative to the claim of ABC Corporation for VAT refund thru Tax Credit
amounting to Php2,205,486.72, with reduction of Php35,557.00 from the
BIR-approved claim of Php2,241,043.72, representing Value-added tax on Seperat
their importations for the period January 1, 2015 to December 31, 2015. ing line

Approved Disapproved

For
Comm’s
ISIDRO S. LAPEŇA, Ph.D., CSEE use only
Commissioner
Remarks: