MORNBFI Vol. 1 - Planters Development Bank

APP. Q-5111.12.31GUIDELINES ON THE COLLECTION OF THEANNUAL SUPERVISORY FEES FOR THE YEAR 2011[Appendix to Subsec. 4901Q.1 (2008 - 4652Q)]The following guidelines shall govern thecollection by the BSP and the payment by QBof the 2011 Annual Supervisory Fees (ASF).1. Notification of amount due for 2011ASF and mode of payment. The BSPSupervisory Data Center (SDC) shall send abilling notice in June 2011 to the QB for itsASF payment indicating, among others, thecomputation of the ASF due, including the 2%creditable withholding tax (CWT) thereon, ifapplicable, the period covered by the ASF andthe specific date when the ASF will be debitedfrom the QB’s demand deposit account (DDA)with the BSP.The BSP will not accept checks as modeof ASF payment. QBs, upon receipt of theASF billing notice from the BSP, shouldmaintain adequate balance in their DDA tocover the ASF and other daily obligationsand, when necessary, make correspondingdeposits to fully cover said obligations. Incase of deficiency, the provisions on DDAdeficiency in Subsec. X4901Q.1, asamended, shall apply.2. Exceptions noted on billing notice of2011 ASF. Upon receipt of the BSP Noticeof ASF billing, a QB is encouraged to checkthe accuracy of the billing and to submitany of the noted exceptions therein not laterthan ten (10) days before the specified dateof collection/debit to DDA as indicated inthe billing notice. The said exceptions,together with supporting documents, shallbe submitted to:The DirectorSupervisory Data Center (SDC)Bangko Sentral Ng Pilipinas16th Floor, Multi-Storey BuildingBSP Complex, A. Mabini StreetMalate, Manila 1004Any exceptions received after the cut-off dateor any exception not duly substantiated withdocuments before the cut-off date will beevaluated and considered in the computationof the ASF for the immediate succeeding year.3. Withholding tax on 2011supervisory fees. The following shall applyto QBs covered by Sections M and N of BIRRevenue Regulations (R.R.) No. 2-98, asamended by R.R. No. 17-2003:a. Within tern (10) days from26 May 2011, the QB shall submit to theBSP (at the address indicated in Item “2”hereof) a certified true copy of the BIR noticeclassifying it as among the institutionscovered under Section M of R.R. No. 2-98,as amended by R.R. No. 17-2003. Such BIRnotice received by the BSP after cut-off often (10) days will be considered in teh ASFcomputation of the next year. The submissionof such BIR notice will no longer benecessary if previously transmitted andreceived by the BSP in compliance withSection 3.1 of the BSP Memorandum No.2009-0046 dated dated 17 November 2009and M-2010-013 dated 31 May 2010.b. The ASF, net of the 2% CWT, shallbe debited from the DDA on the specifieddate referred to in the notice of ASF billingunder Item “1”.c. The following timelines shall beobserved on the submission of annualwithholding tax documents to BSP at theaddress indicated in Item "2" hereof:Tax DocumentsDue Date1. Original copy of BIR Form On or beforeNo. 2307 - Certificate of 31 DecemberCreditable Tax Withheld at 2011SourceManual of Regulations for Non-Bank Financial Institutions Q RegulationsAppendix Q-51 - Page 1