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  • Memo Circular On The Guidelines of COVID Related Transactions

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    SJ Limin
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    The Revenue Memorandum Circular No. 2-2020 requires all gasoline stations nationwide to submit a sworn declaration statement to the BIR by January 15, 2020 detailing their inventory volumes of diesel, gasoline and kerosene as of December 31, 2019. The concerned Revenue District Office must then consolidate these reports, note whether the inventory has been marked or not, and transmit the information to the Excise LT Field Operations Divisions by January 31, 2020 to create an initial database for monitoring and field testing related to the Fuel Marking Program.

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    Memo Circular on the Guidelines of COVID Related Transactions

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    The Revenue Memorandum Circular No. 2-2020 requires all gasoline stations nationwide to submit a sworn declaration statement to the BIR by January 15, 2020 detailing their inventory volumes of diesel, gasoline and kerosene as of December 31, 2019. The concerned Revenue District Office must then consolidate these reports, note whether the inventory has been marked or not, and transmit the information to the Excise LT Field Operations Divisions by January 31, 2020 to create an initial database for monitoring and field testing related to the Fuel Marking Program.

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    © All Rights Reserved
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    8 views1 page

    Memo Circular On The Guidelines of COVID Related Transactions

    Uploaded by

    SJ Limin
    The Revenue Memorandum Circular No. 2-2020 requires all gasoline stations nationwide to submit a sworn declaration statement to the BIR by January 15, 2020 detailing their inventory volumes of diesel, gasoline and kerosene as of December 31, 2019. The concerned Revenue District Office must then consolidate these reports, note whether the inventory has been marked or not, and transmit the information to the Excise LT Field Operations Divisions by January 31, 2020 to create an initial database for monitoring and field testing related to the Fuel Marking Program.

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    © All Rights Reserved
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    REVENUE MEMORANDUM CIRCULAR NO.

    2-2020 issued on January 2, 2020 mandates


    all Revenue District Offices to require all gasoline stations nationwide to submit to the BIR a sworn
    declaration statement of inventory identified per branch as of December 31, 2019, specifying the
    volume and type of petroleum products, namely: diesel, gasoline and kerosene. Said sworn
    declaration shall be submitted to the Revenue District Office (RDO)/Large Taxpayers (LT)
    Division where the principal place of business is registered, on or before January 15, 2020, in
    preparation for the Field Testing aspect of the Fuel Marking Program.
    The concerned RDO shall consolidate the submitted report, which shall state whether the
    inventory has been marked or not, and transmit the same to the Excise LT Field Operations
    Divisions on or before January 31, 2020 to serve as the initial database for monitoring and field
    testing.

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