Tax Digest
Volume 9,
Series 53
Centralized Safekeeping of Forfeited Assets, Imposed

The Bureau of Internal Revenue (BIR) released a new memorandum order for absolutely forfeited assets in favor of the government, which amends Revenue Memorandum Order (RMO) No. 83-2010. The objective of the BIR is to centralize in the National Office the custody and safekeeping of the original copies of documentary proofs of ownership by government of absolutely forfeited properties that were acquired by the different revenue offices of this Bureau thru “tax sale”, with the end of further ensuring the security of these documents and enhancing the accountability thereto of the concerned revenue offices.

Revenue Memorandum Order No. 8-2016, February 12, 2016
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