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CM 204 - RECONCILIATION OF COLLECTION THROUGH BANGKO SENTRAL NG PILIPINAS (BSP) CHECKLESS PAYMENT

Reconciliation of Collection Through Bangko Sentral ng Pilipinas (BSP) Checkless Payment 

In this mode of payment, the BSP is allowed to pay all its internal revenue taxes by directly crediting the account of the TOP under the BSP Checkless Payment scheme. The reconciliation process required the matching of the BTr and BSP data as well as the records of remittance with the returns filed together with the BSP direct credit advice as proof of payment.

The RAD shall:

  1. Receive from BSP the credit advice (Annexes 200-1.12/ 200-1.12a/ 200-1.12b) and the Monthly Summary Listing of BSP Credit Advice Issued (Annexes 200-1.13a/ 200-1.13b/ 200-1.13c/ 200-1.13d);
  2. Notify BSP on any noted discrepancies relative to the reports/ credit advice reported/ or not reported to RAD;
  3. Match the collection data reflected in the BTr JEV with the information shown in the Monthly Summary Listing of BSP Credit Advice Issued transmitted to the BIR by the BSP;
  4. Coordinate the reconciliation of data with the BSP and the BTr, in case of existence of further discrepancy, and require the concerned office to submit amended report thereon, if necessary;
  5. Notify all the concerned RDOs of the tax collections made thru BSP Checkless Payment, and request the RDOs to validate the data within the BCS/ copy of the tax returns transmitted to them by the BSP together with the BSP Credit Advice attached therewith;
  6. Receive from the RDO the report on the results of data validation. In case of reported discrepancy, coordinate with the concerned RDO for the expeditious resolution of the issue with the BSP;
  7. Monitor the actions made by BSP on the resolution of the reconciliation issue to ensure that any adjustment on the reported collection will be taken up by the BTr thru the issuance of BTr JEV; and
  8. Prepare the corresponding BIR JEV on the BSP credit advice covering the additional payment of taxes by the BSP thru checkless payment attached to the BTr JEV; and record the additional collection in the eNGAS.

The RDO shall:

  1. Receive request from RAD to validate the collection data thru BSP checkless payments;
  2. Validate the collection data in CBR-ITS database. Coordinate with BSP, in case of discrepancy in the collection data; and
  3. Inform RAD on the results of validation of data. 

The BSP shall:

  1. Receive request for validation of BSP checkless payment from RAD/RDO;
  2. Validate the request and submit the necessary requirements to RAD/RDO;
  3. Issue a new BSP Credit Advice in the event that BSP has filed an amended tax return and paid additional taxes due thereon, if any, to the BIR; and
  4. Submit the copies of the issued BSP Credit Advice to BTr, RAD and the concerned RDO [Refer to CM 108.2 Payment through BSP Checkless Payment – Collection Reporting (RDO)].

The BTr shall:

  1. Prepare BTr JEV on BSP Checkless Payment upon receipt of the new BSP Credit Advice; and
  2. Send the amended BTr JEV to RAD.