QuestionsQuestions (EXECUTIVE ORDER NO. 16)
The main purpose is to require owners of taxable imported motor vehicles with year models 1988 to 1992 to obtain clearances from the Bureau of Customs and Bureau of Internal Revenue as a precondition to renewing their vehicle registration with the Land Transportation Office to ensure payment of required taxes, duties, and fees.
It applies to all taxable imported motor vehicles with year models from 1988 to 1992.
Owners must secure clearances from both the Bureau of Customs and the Bureau of Internal Revenue certifying that the required taxes, duties, and fees have been paid or subsequently satisfied.
No, the Land Transportation Office shall not allow the renewal of registration without the appropriate clearances from the Bureau of Customs and Bureau of Internal Revenue.
The uniform compromise payment schedule sets the compromise amounts owners must pay in lieu of full taxes, duties, and fees, facilitating settlement and collection of unpaid taxes on taxable imported motor vehicles.
The Secretary of Finance, through a Department Order, is responsible for promulgating the uniform compromise payment schedule.
No, it is a one-time requirement. Once an owner has secured clearances according to this order, they do not need to obtain them for subsequent renewals.
The Bureau of Customs, the Bureau of Internal Revenue, the Land Transportation Office, and the Department of Finance are involved in the order's implementation.
The Land Transportation Office will not allow the renewal of the vehicle's registration, preventing the vehicle from being legally registered and used on public roads.
It took effect fifteen (15) days after its publication in a newspaper of general circulation.
The order sought to address the non-payment of required taxes, duties, and fees on imported taxable motor vehicles which led to substantial revenue loss for the government.
They are tasked with issuing rules and regulations necessary to implement the provisions of the Order.