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Acquiring
and Using
Tax Certificates |
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| Office
of Special Concerns |
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General
Procedures
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Applicants
for tax credits and/or duty drawbacks
shall prepare and file their applications,
as follows:
| 1.) |
Acquire
a Claimant Information Sheet (CIS)
from the CENTER's Receiving and Transmittal
Unit I (RTU-1) located at the Podium
Level of the Department of Finance
Building. |
| 2.) |
For
first time applicants, secure the
Pre-Evaluation Checklist Form applicable
for the specific tax credit scheme
being applied for (i.e. Direct Regular,
Direct Standard, Indirect Regular,
Indirect Standard, ATCS Standard,
and ATC Regular) from the CENTER's
Receiving and Transmittal Unit II
(RTU-2) located at the 3rd Flr of
the Department of Finance Building.
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| 3.) |
Correctly
fill out all the required information
of the CIS and have it notarized.
Prepare all the documentary requirements
listed in the Pre-Evaluation Checklist
Form including the necessary tables
and schedules. These shall constitute
the application docket of the applicant
of which, completeness and acceptability
shall be a factor in the expediency
of processing. |
| 4.) |
Submit
the application docket in 3 separate
folders: one set of original and two
sets of Certified True Copies to RTU-1
in conformance with Office Order No.
052-2000. Make the corresponding payment
of filing fee. |
After
accomplishing steps 1 to 4, the application
shall now go through the process-based
system of processing.
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The
Process-Based System
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Process-Based System of processing Tax &
Duty Drawback applications was implemented
last May of 2000 to process claims of BOI-registered
firms filed under the Investment Incentive
Group (IIG) of the CENTER. Claims filed
under the Duty Drawback Group (DDG)/ Bureau
of Customs (BOC) and Tax Revenue Group (TRG)/
Bureau of Internal Revenue (BIR) will eventually
follow the same system. This system is based
on the "assembly line" concept of production
and was conceived to depart from the "one
claim per evaluator" under the previous
Industry-Based System which was proven to
be ineffective. The Process-Based System
is envisioned to make the processing of
tax credit application more efficient and
transparent. Under the new system, tax credit
applications pass through the following
sequence of processing: |
| A. |
Pre-Qualification
of Claimants |
The Claimant Pre-Qualification & Registration
Division (CPRD) is tasked to pre-qualify
claimants annually to establish their eligibility
to avail of the tax credits and duty drawback
claims granted under various incentive laws.
The claimant is required to comply with
and submit pre-qualification requirements
to the CPRD [Pre-qualification Link] prior
to the processing of their claims.
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| B. |
Checklisting
and Pre-Evaluation |
The Receiving, Pre-Evaluation & Documentation
Division (RPDD) is tasked to pre-evaluate
the tax credit applications of claimants
as to its completeness, accuracy and acceptability.
The RPDD checks and examines the contents
of the tax credit application docket against
the documentary requirements listed under
the Pre-evaluation Checklist Forms furnished
to the claimants. If there are deficiencies,
the claimant is notified through a Deficiency
Letter (DL) with the attached deficiency
list that must be complied with within 30-working
days from the date of the letter. Based
on the pre-evaluation of the documents submitted,
the RPDD will make the recommendation whether
accept or not the application. If accepted,
RPDD will issue a Notice of Payment (NP)
to which claimant is given 10-working days
to settle payment. Upon payment, the application
is then forwarded to the next stage.
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| C. |
Financial
Validation |
The Financial Validation Division (FVD)
is tasked to validate the transaction documents
supporting the claim against the entries
in the company's pertinent books of account.
This will ensure if data and figures submitted
are properly posted in the company's books.
For this purpose, the validation group,
by virtue of a Letter of Authority (LA)
issued by the CENTER, will only examine
the particular accounts relevant to the
claim.
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| D.) |
Verification
and Authentication |
The Verification and Authentication Division
(VAD) is tasked to verify and authenticate
the transaction documents submitted to support
the claim against the records of the issuing
government or private entities. This procedure
will discourage misrepresentations that
may be committed by claimants.
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| E.) |
Claim
Evaluation |
The Claim Evaluation Division (CED) is tasked
to evaluate, compute and recommend the amount
of tax credit to be granted to the claimant
based on the findings of the previous divisions.
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| F.) |
Review,
Approval, Preparation and Issuance of TCC
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Once the recommendation is reviewed by the
Deputy Executive Director and duly approved
by the Executive Director, the Tax Credit
Issuance and Application Division (TIAD)
is tasked to prepare the corresponding TCC
for release.
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| G.) |
Post
Audit and Monitoring |
The Post Audit and Monitoring Division (PAMD)
is tasked to post audit released TCCs in
accordance with the established Guidelines/Manual
of operations, and in coordination with
the Commission on Audit (COA).
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