MORNBFI Vol. 1 - Planters Development Bank

APP. Q-5111.12.31Tax DocumentsDue Date2. Original Duplicate Copy of On or beforeBIR Form No. 1601E - 31 DecemberMonthly Remittance Return 2011of Creditable Income TaxesWithheld (Expanded), dulyreceived by BIR, If manuallyfiled, or duly supported withBIR confirmation notice/advice, if elctronically filed3. Certified true copy of BIR On or beforeofficial receipt/payment 31 Decemberconfirmation receipt 2011d. Considering that the withholdingtax documents enumerated in Item “c” willbe used to avail the tax credits for filing theannual income tax return of the BSP, thefailure to submit all of the enumerateddocuments within the stated deadline willcompel the BSP to immediately debit anamount equivalent to the 2% CWT from theDDA of QBs concerned, with no obligationon the part of the BSP to reimburse saidamount in case of late submission. In caseof DDA deficiency, the provisions inSubsec. 4901Q.1, as amended, shall apply.The above guidelines on withholdingtax shall be strictly enforced pendingresolution of the tax treatment on the ASFbeing assessed by the BSP.(M-2009-004 dated 12 February 2009, as amended byM-2011-029 dated 26 May, 2011, M-2010-013 dated 31 May2010 and M-2009-046 dated 17 November 2009)Q Regulations Manual of Regulations for Non-Bank Financial InstitutionsAppendix Q-51 - Page 2