June 7, 1996
REVENUE AUDIT MEMORANDUM ORDER NO. 1-96
I. SCOPE
This Order outlines the procedures, guidelines and techniques in the verification of Presumptive Input Tax (PIT) claimed by taxpayers newly-covered by EVAT (RA 7716) and shall cover all inventories of goods, materials, supplies and improvements as of December 31, 1995 on which PIT was recognized pursuant to Section 4.112-2(a) of Revenue Regulations No. 7-95.
II. OBJECTIVE
To insure the validity and correctness of claims for Presumptive Input Tax, the inventory lists of goods, materials, supplies and improvements as of December 31, 1995 filed by newly-covered taxpayers shall be subjected to test-verification following the uniform guidelines, procedures and techniques as hereinafter provided.
III. POLICIES
1. All verification of PIT shall be covered by a Mission Order (Annex A) and a Letter to Taxpayer (Annex B) signed by the Revenue District Officer which shall serve as the authority of the Revenue Officer to conduct verification. Mission Orders shall be prepared in four (4) copies distributed as follows:
| — | original | — | taxpayer |
| — | duplicate | — | attached to the docket |
| — | triplicate | — | RDO File |
| — | quadruplicate | — | Assessment Division |
2. All Mission Orders...
