Question & AnswerQ&A (EXECUTIVE ORDER NO. 339)
The Central Bank of the Philippines is directed to receive payment of other national internal revenue taxes through its authorized agent banks, in addition to those specified under Executive Order No. 206.
Executive Order No. 339 amends Executive Order No. 206 dated January 9, 1970.
The Secretary of Finance must consult with the Monetary Board before determining other national internal revenue taxes appropriate and feasible for payment through the banking system.
Four categories of national internal revenue taxes were originally enumerated under Executive Order No. 206.
The Secretary of Finance, after consultation with the Monetary Board, has the authority to determine additional taxes eligible for payment through the banking system.
Yes, the pertinent provisions of EO No. 206 shall apply to the receipt of such additional internal revenue taxes.
Payments are to be received through the Central Bank's authorized agent banks.
Executive Order No. 339 was signed on September 9, 1971.
It expanded the payment mechanism to include additional national internal revenue taxes payable through the banking system via authorized agent banks of the Central Bank.