THE Bureau of Internal Revenue (BIR) recently issued Revenue Memorandum Order (RMO) 42-2018, amending RMO 29-2014 to align the validity period of the certification on the existence of outstanding tax liabilities of taxpayers and the certification on the status of cases pending legal or judicial resolution with the 90-day period for processing all applications for value-added tax (VAT) refund pursuant to Republic Act (RA) 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (Train) Law.
Previously, certifications issued by all concerned revenue offices were valid for one month from the date of issue.
Under RMO 42-2018, certifications issued by all concerned revenue offices pertaining to taxpayer’s claim for VAT refund are valid for six months from the date of issue, whereas other certifications in relation to the existence of outstanding tax liabilities of taxpayers that do not fall under the same purpose will be valid for only one month from the date of issue; provided, however, that the foregoing requirements do not apply to certifications requested by and issued directly to taxpayers or other offices outside the BIR.
For further information, please refer to the full text of RMO 42-2018.
SOURCE:
P&A GRANT THORNTON
Certified Public Accountants
Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton
International Ltd.