Tuesday, February 06, 2007 Tax notes: BIR, BOC to accept tax payments
IN Revenue Memorandum Circular 76-06, the Secretary of Finance has authorized the Bureau of Internal Revenue (BIR) and the Bureau of Customs (BOC) to accept installment payments of taxes and customs duties on transactions and taxable events at any time prior to the deadlines for payment of the taxes and duties.
The authority allows taxpayers and importers to pay in staggered basis their taxes and customs duties.
The full amount of customs duties or taxes due is paid on or before their due dates. (Source: Punongbayan & Araullo)
