REVENUE MEMORANDUM CIRCULAR NO. 15-2013 issued on February 13, 2013 publishes and implements pertinent provisions of Resolution No. 9476 entitled “Rules and Regulations Governing Campaign Finance and Disclosure in Connection with the May 2013 National and Local Elections and Subsequent Elections Thereafter”.

Pursuant to Section 1 of Rule 7 of the Resolution, it shall be the duty of every candidate, treasurer of the party and person acting under authority of that candidate or treasurer:

a.to issue a receipt for every contribution received, and to obtain and keep a receipt stating the particulars of every expenditure made.

b.to keep detailed, full and accurate records of all contributions received and expenditures incurred by him and by those acting under his authority, setting forth therein all information required to be reported.

c.to be responsible for the preservation of the records of contributions and expenditures, together with all pertinent documents, for at least three (3) years after the holding of the election to which they pertain and for their production for inspection by the Commission on Elections (COMELEC) or its duly authorized representative, or upon presentation of a subpoena duces tecum duly issued by the COMELEC.”

Aside from obtaining a Tax Identification Number, all political parties including party list groups are required to register with the BIR, issue Official Receipts (ORs) and withhold taxes pursuant to Revenue Regulations (RR) No. 8-2009. The registration of political parties or party list shall be made with the Revenue District Office (RDO) having jurisdiction over their Head Office or principal office.

It shall be the duty of every individual candidate upon the filing of the certificate of candidacy, whether for local or national position, to register or update their registration with the BIR for those who have previously registered as Withholding Agents pursuant to RR No. 8- 2009. The registration shall be made with the RDO having jurisdiction over the political subdivision where the candidate is seeking election, and, if this is not applicable, registration shall be made at the RDO having jurisdiction over their principal residence or registered address, as the case may be.

The registration of individuals in their capacity as candidates shall automatically end after 30 days from the date of the election. However, the registration of political parties including party list groups shall subsist.

All candidates and political parties, including party list groups are required to register with the concerned RDO and keep adequate books and other accounting records such as Cash Receipts Journal, Cash Disbursements Book or their equivalent.

Every candidate, treasurer of a political party, including party-list groups, and every person acting under authority of such candidate or treasurer shall register with the RDO concerned ORs at least in duplicate to be issued for every contribution received, whether in cash or in kind. The original copy of the OR shall be issued to the contributor/donor while the

duplicate shall be retained by the candidate or political party/party list. Contributions in kind shall be valued at their cash equivalent or fair market value.

To address the immediate need for the ORs, all RDOs are authorized to issue to their registered individual candidates BIR-Printed Non-VAT ORs, without requiring Authority to Print. These Non-VAT ORs shall be accounted for by submitting data on the number of receipts used and surrendering the unused ones to the RDO within 10 days after the election.

All candidates and political parties, including party list groups, shall be responsible for the preservation of the records of contributions and expenditures, together with all pertinent documents, for at least 3 years after the holding of the election to which they pertain and for their production for inspection as authorized by the Commissioner of Internal Revenue.