Manila, Philippines - On Thursday, the Revenue Memorandum Circular No. 72-2016 was signed, ordered the immediate reduction of documentary requirements for tax clearance to just three, while the processing could be made in just two days.
"This circular is being issued in order to streamline the requirements and process in inssuing Tax Clearance."
Now, the only requirements are an accomplished and notarized application from with two pieces of documentary stamp tax, a print-out of the payment receipt from the BIR's electronic filing and payment system(EFPS), and a delinquency verification valid for one month.
According to the BIR, the delinquency verification will be issued by the BIR within 24 hours after has been filed.
"The Tax Clearance shall be processed and released within two working days from the date of submission of the complete documents.
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