EXECUTIVE ORDER NO. 937 March 1, 1984
VESTING IN THE BUREAU OF INTERNAL REVENUE THE PRIMARY RESPONSIBILITY OF ENFORCING THE COLLECTION OF NATIONAL INTERNAL REVENUE TAXES THROUGH THE BANKING SYSTEM
WHEREAS, there is an imperative need for a more effective system of collecting national internal revenue taxes as a means of increasing tax collections and protecting revenues; and
WHEREAS, this objective may be better achieved by designating the proper office that shall be responsible for the collection of taxes through the facilities of the banking system;
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of Philippines, by virtue of the powers vested in me by law, do hereby direct the Bureau of Internal Revenue to adopt such rules and regulations as are necessary to utilize the banking system in receiving and accounting for internal revenue tax payments, which shall include the following:
1) Criteria for the selection and authorization of authorized agent banks;
2) Adoption of terms and conditions under which authorized agent banks shall undertake collection, to include:
a) procedures to...
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Executive Orders
Vesting in the Bureau of Internal Revenue the Primary Responsibility of Enforcing the Collection of National Internal Revenue Taxes Through the Banking System
Executive Order No. 937
EXECUTIVE ORDER NO. 937
Purpose: Vesting in the Bureau of Internal Revenue the primary responsibility of enforcing the collection of national internal revenue taxes through the banking system.
- Authorizes the Bureau of Internal Revenue (BIR) to adopt rules and regulations to utilize the banking system for receiving and accounting for internal revenue tax payments. (Section 1)
- Criteria for selecting and authorizing agent banks. (Section 1.1)
- Terms and conditions for authorized agent banks:
a) Procedures for timely collection and remittance of tax payments. (Section 1.2.a)
b) Penalties for violations, without prejudice to civil and criminal sanctions. (Section 1.2.b)
c) Access to records pertaining to tax collection activities. (Section 1.2.c)
- Remittance procedures from authorized agent banks:
1) Taxpayers to file returns with BIR and pay taxes to authorized agent banks upon presenting a Payment Order. (Section 3.1)
2) BIR to issue Payment Orders indicating tax due, surcharges, penalties, and interest. (Section 3.2)
3) Agent banks to accept tax payments and issue official receipts. (Section 3.3)
4) BIR to determine and refund overpayments. (Section 3.4)
5) Agent banks to remit collections to Central Bank, which remits to Treasurer of the Philippines with advice to BIR. (Section 3.5)
6) BIR to account for and monitor tax collections and remittances of agent banks. (Section 3.6)
- Penalties for delayed remittances by banks accrue to a fund for BIR's collection functions. (Section 4)
- BIR to initiate prosecution of banks or employees for civil and criminal liabilities related to tax collection activities. (Section 5)
- BIR and Ministry of Finance to promulgate rules and regulations for implementation. (Section 6)
- Revokes Executive Order No. 206, Series of 1970. (Section 7)
Purpose: Vesting in the Bureau of Internal Revenue the primary responsibility of enforcing the collection of national internal revenue taxes through the banking system.
- Authorizes the Bureau of Internal Revenue (BIR) to adopt rules and regulations to utilize the banking system for receiving and accounting for internal revenue tax payments. (Section 1)
- Criteria for selecting and authorizing agent banks. (Section 1.1)
- Terms and conditions for authorized agent banks:
a) Procedures for timely collection and remittance of tax payments. (Section 1.2.a)
b) Penalties for violations, without prejudice to civil and criminal sanctions. (Section 1.2.b)
c) Access to records pertaining to tax collection activities. (Section 1.2.c)
- Remittance procedures from authorized agent banks:
1) Taxpayers to file returns with BIR and pay taxes to authorized agent banks upon presenting a Payment Order. (Section 3.1)
2) BIR to issue Payment Orders indicating tax due, surcharges, penalties, and interest. (Section 3.2)
3) Agent banks to accept tax payments and issue official receipts. (Section 3.3)
4) BIR to determine and refund overpayments. (Section 3.4)
5) Agent banks to remit collections to Central Bank, which remits to Treasurer of the Philippines with advice to BIR. (Section 3.5)
6) BIR to account for and monitor tax collections and remittances of agent banks. (Section 3.6)
- Penalties for delayed remittances by banks accrue to a fund for BIR's collection functions. (Section 4)
- BIR to initiate prosecution of banks or employees for civil and criminal liabilities related to tax collection activities. (Section 5)
- BIR and Ministry of Finance to promulgate rules and regulations for implementation. (Section 6)
- Revokes Executive Order No. 206, Series of 1970. (Section 7)