
REVENUE MEMORANDUM CIRCULAR NO. 58-2021 issued on May 3, 2021 circularizes Republic Act (RA) No. 11521, titled “An Act Further Strengthening the AntiMoney Laundering Law, Amending for the Purpose Republic Act No. 9160, Otherwise Known as the ‘Anti-Money Laundering Act of 2001’, as Amended”.
Section 3, No. 35 of RA No. 9160 is amended as follows:
“(35) Violations of Section 254 of Chapter II, Title X of the National
Internal Revenue Code of 1997, as amended, where the deficiency basic tax
due in the final assessment is in excess of Twenty-five million pesos (₱
25,000,000.00) per taxable year, for each tax type covered and there has
been a finding of probable cause by the competent authority: Provided,
further, That there must be a finding of fraud, willful misrepresentation or
malicious intenton the part of the taxpayer: Provided, finally, That in no case
shall the AMLC institute forfeiture proceedings to recover monetary
instruments, property or proceeds representing, involving, or relating to a
tax crime, if the same has already been recovered or collected by the Bureau
of Internal Revenue (BIR) in a separate proceeding; and”
Section 20 of the same Act is amended to read as follows:
“SEC. 20. Non-intervention in the Bureau of Internal Revenue (BIR)
Operations. – Nothing contained in this Act nor in related antecedent laws or
existing agreements shall be construed to allow the AMLC to participate in any
manner in the operations of the BIR. The AMLC may, however, coordinate
with the BIR on investigations in relation to violations of Section 254 of the
NIRC, as amended, as a predicate offense to money laundering.”