REVENUE MEMORANDUM CIRCULAR NO. 50-2014 issued on June 10, 2014 reiterates and clarifies the requirement in the issuance of Withdrawal Certificate (WC) for every removal of petroleum or petroleum products.

       For petroleum or petroleum products removed and transported through the use of tankers or marine vessel, one WC shall be prepared and issued indicating therein the manufacturer/importer, full name and address of consignee, place of final destination, carrier/truck number, date withdrawn, due date of payment, exact description of the product, volume and amount of Excise Tax paid, whether imported or locally manufactured.

        The taxpayer must indicate whether the product is bonded, tax exempt or tax paid on the space provided under “Remarks”. If the product is imported, the Official Receipt (OR) No., amount and date of payment must be indicated. If payment is made through a Product Replenishment Debit Memo (PRDM) pursuant to Product Replenishment Scheme under Revenue Regulations No. 3-2008, the PRDM No. with the corresponding date and amount must be indicated. And if the petroleum product is being removed from a storage facility, the tank number shall be indicated in the WC.

   All WCs shall be supported by Sales Invoice, Delivery Invoice and/or internal transfer documents, if the removal is destined to the depot or storage facility owned or operated by the manufacturer/consignor. In case of transfer from one depot to another, a WC must be issued for each and every removal.

        Any petroleum or petroleum product found to be unaccompanied by an official WC shall be considered illegally removed and subject to confiscation or forfeiture regardless whether the same is tax-paid or not. All WCs must be certified by the Revenue Officer on Premise as to the correctness of the entries in the said WC.