Question & AnswerQ&A (LTFRB MEMORANDUM CIRCULAR NUMBER 2006 - 074)
Public utility vehicle operators are required to submit their Income Tax Returns (ITR) duly received by the Bureau of Internal Revenue (BIR) on or before the 15th day of May of each year.
A penalty of Two Hundred Fifty Pesos (Php250.00) per year is imposed on operators who fail to submit their ITR on time.
The unit or units of the operator shall not be confirmed for purposes of registration until and unless the operator files the required Income Tax Return.
Memorandum Circular No. 2005-013 (Re: Submission of Tax Clearance instead of Income Tax Returns) dated 09 May 2005 was suspended, and the provisions of Memorandum Circular No. 2004-038 (Re: Submission of Income Tax Returns) dated 19 November 2004 were reinstated.
It shall be effective fifteen (15) days after its publication in a newspaper of general circulation or in the Official Gazette.
The amendment was made after consultations with various transport group leaders and due to the clamor of the operators of public utility vehicles.
The LTFRB coordinates with the BIR to require operators to submit Income Tax Returns duly received by the BIR as part of regulatory compliance.
This memorandum circular supersedes any and all issuances that are inconsistent with it.
It is a penalty imposed for failure to submit the Income Tax Return on time.