Friday, February 10, 2017

When Payment of Taxes Through Credit/Debit/Prepaid Card is Deemed Made?

Did you know that the CIR of the bureau has issued Revenue Regulations (RR) No. 2-2017 recently amending RR No. 3-2016 particularly Section 4(a) and (b) thereof?
The amendment is as follows:
SECTION 2. Amendment. - Section 4 of RR No. 3-2016 is hereby amended to read as follows:
"SECTION 4. When Payment is Deemed Made. - The payment of taxes through credit/debit/prepaid card shall be deemed made on the date and time appearing in the system-generated payment confirmation receipt issued to the taxpayer-cardholder by the AAB-Aquirer.
However, in case of late remittance or non-remittance of taxes to the BIR, despite the timely issuance of a valid confirmation receipt by the AAB-Acquirer to the taxpayer-cardholder, the liability to pay the tax rests upon the AAB-Acquire considering that from the time of issuance of a valid confirmation receipt to the taxpayer-cardholder, the AAB-Acquirer becomes the trustee of the government with the obligation to remit the payment on time to the BIR.

No comments:

Post a Comment