November 19, 2014

OPERATIONS MEMORANDUM NO. 2014-12-03

Records showed that as of December 31, 2013, the outstanding balance of the account "Other Receivables" (SL 149-002 — Dishonored Checks thru Banks) in the National Office (NO) National Government (NG) books of accounts amounted to over P430.86 million. This account pertains to the accumulated balances of Dishonored Checks (DCs) for the period 1987 to 2013 that are still appearing in the NO-NG books of accounts, the accuracy of which may be considered doubtful. It has been noted that some of these accounts were already redeemed by the concerned taxpayers but such redemptions are not yet reflected in the books of accounts being maintained by the Revenue Accounting Division (RAD) due to the absence of the requisite supporting documents such as BIR Form No. 12.61 (Report of Dishonored Checks Redeemed) and/or the settlement thereof could not be validated...

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