List Of Assets (rmo 26-2010)

(1) March 15, 2010

REVENUE MEMORANDUM ORDER NO. 026-10

I.

SUBJECT :

Preparation of the List of Assets to be Prepared by the Revenue Officer for Cases Under Investigation/Verification and its Incorporation in the Data Warehouse

TO

All Internal Revenue Officers and Others Concerned

:

Objectives This Order is issued to:

II.

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1.

Institute a system for the development of a Data Warehouse that shall contain information on the assets of taxpayers subject of an investigation/verification that may be utilized in the collection enforcement proceedings that may be instituted against taxpayers in the future; and

2.

Revive the preparation of BIR Form No. 1717L, renumbered as BIR Form No. 0804 (Revised July 1996), prescribed under RMO No. 4-95, that shall be submitted by all Revenue Officers (ROs) conducting audit of taxpayers.

Policies and Procedures 1.

In addition to the reporting requirements to be prepared and/or submitted in the audit/verification of internal revenue tax liabilities under a Letter of Authority (LA) or Tax Verification Notice (TVN), the Revenue Officer (RO) shall determine all the assets of a taxpayer being investigated, such as type of assets, location of the assets, bank accounts maintained, etc., and secure pertinent information thereof.

2.

The List of Assets, business and personal, domestic and foreign, prescribed under BIR Form No. 0804 (Annex "A") shall be encoded by

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the RO within one (1) month from the date of service of the LA/TVN to the taxpayer following procedures to be prescribed by the Deputy Commissioner-Information Systems Group (ISG). The RO shall print one hard copy of the list to be attached to the docket of the case. 3.

The Head of all Audit Offices shall monitor the compliance of the ROs on the encoding of the required List of Assets and attachment of a copy to the docket as prescribed in this Order. IHCSTE

4.

III.

The Deputy Commissioner-ISG shall develop the facility to allow the viewing of information on assets of taxpayers for use in the collection enforcement proceedings, if warranted.

Repealing Clause

All other issuances inconsistent herewith are hereby modified or repealed accordingly. IV.

Effectivity This Order shall take effect immediately upon approval. (SGD.) JOEL L. TAN-TORRES Commissioner Bureau of Internal Revenue ANNEX A

BIR FORM NO. 0804 LIST OF ASSETS Domestic and Foreign ________________________ (Name of Taxpayer) As of ____________________ Tax Identification Number (TIN): ________________ Address: ____________________________________ ___________________________________________

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LA [ ] TVN [ ] No. _____ Tax Type: _____________ Taxable Year: __________

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A.

Used in Business Value (in

Philippine Peso) Reference

Size/Area

(OCT/TCT/

(No. of Units

Classification(Cost, if

acquired by purchase; zonal value Type market value,

CCT No.

Location

and/or Tax

(e.g., Residential,

for Machinery

Commercial,or fair

and Equipment)

Agricultural,

whichever is higher, if Declaration No.)

etc.)by

inheritance or donation) Real

Land

Properties

Land and Building Others Machinery and Equipment (in detail) Type/Nature

Account No.

Name/Address of Bank

Total Value

of Account In Foreign Cash on Hand

In Pesos

Currency

and in Bank Total Collectible Amount Type/Nature

Name & Address of Debtor

In Foreign

In Pesos

Currency Receivables

Type/Nature of Investment

Name/Address

No. of

of Issuing Company

Shares/ Units

Total Value Value per Share/Unit

In ForeignIn

Pesos Investments

Currency

in Stocks, Bonds and Other Certificates Copyright 2018

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Type of Motor

Motor and

Vehicle

Engine

(Land, Air,

Number

Brand/Model

Plate No./Registration No.

Total Value

__________ __________

____________ ____________

_____________________ _____________________

____________ ____________

Type

Nature and Description

Physical Location

Value

Water) __________ __________

Other Business Assets

B.

Personal Value (in

Philippine Peso) Reference

Size/Area

Classification(Cost, if

(OCT/TCT/

(No. of Units

acquired by purchase; zonal value Type market value,

CCT No. and/or Tax

Location

(e.g., Residential,

for Machinery

Commercial,or fair

and Equipment)

Agricultural,

whichever is higher, if Declaration No.)

etc.)by

inheritance or donation) Real

Land

Properties

Land and Building Others (specify) Type/Nature

Account No.

Name/Address of Bank

Total Value

of Account In Foreign Cash on Hand

In Pesos

Currency

and in Bank Type/Nature

Name & Address of Debtor

Total Collectible Amount In Foreign

In Pesos

Currency Receivables Copyright 2018

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Type/Nature of Investment

Name/Address of Issuing

No. of Shares/

Company

Units

Value per Share/Unit

Total Value In ForeignIn

Pesos Currency

Investments in Stocks, Bonds and Other Certificates Type of Motor Vehicle

Motor and Engine

(Land, Air,

Number

Brand/Model

Plate No./Registration No.

Total Value

__________ __________

____________ ____________

_____________________ _____________________

____________ ____________

Type

Nature and Description

Physical Location

Value

Water) __________ __________

Other

Jewelry

Assets

Furnitures

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Endnotes 1 (Popup - Popup) Annex A

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