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Revenue Memorandum Circular No. 29-­2009

Clarifying Certain Issues Relative to the Processing of Claims for Tax Credit/Refund

RMC No. 029-09 | 2009-04-16

SUBJECT : Clarifying Certain Issues Relative to the Processing of Claims for Tax Credit/Refund
TO :          All Internal Revenue Officers and Others Concerned

I. Objective — This Circular is issued to address the concerns of taxpayers/claimants in the delay in the processing of claims for tax refund/tax credit certificate (TCC).

II. Premises — Sections 76, 112 (A), 130 (D) and 204 (C) of the Tax Code of 1997 provide for the credit and/or refund of excess income tax, input VAT attributable to zero-rated or effectively zero-rated sales, excise tax paid on certain export items, and taxes erroneously or...