REVENUE MEMORANDUM CIRCULAR NO. 90-2021 issued on July 28, 2021 provides specific guidelines and procedures on the utilization of Tax Payment Certificate (TPC) issued under the Comprehensive Automotive Resurgence Strategy (CARS) Program.
             TPC refers to a non-transferable certificate, which shall be used to defray the tax and duty obligations of the Eligible and Registered Participants (ERPs) to the National Government. The ERPs shall request from Department of Trade and Industry-Board of Investments (DTI-BOI) for the issuance of TPC based on the statutory deadlines for payment of tax and/or duty.
              The TPC shall only be applied against the Excise Tax, Income Tax and Value-Added Tax (VAT) liabilities incurred in the course of the ERPs operations, and shall not include any type of Withholding Taxes of the ERPs. The amount of the TPC shall be indicated in the tax return as deduction from the tax due of the ERPs. Specifically, indicate the phrase “TPC No. (control or serial number)” and its corresponding amount in the boxes provided for in the line item of the tax return which states the phrase “Other Tax Credits/Payments (specify)” located immediately after the line item stating “Tax Due”. In case the amount of TPC exceeds the tax due, net of the creditable taxes, the excess shall not be considered or treated as a refundable amount.
                    The accomplished tax return shall be filed using the electronic Filing and Payment System (eFPS) or eBIRForms Package, as the case may be. In case the tax due is more than the amount of the TPC, the tax still due shall be paid using the available modes of payment of the BIR. The printed hard copy of the duly-filed tax returns, together with the BIR copy of the TPC and other prescribed attachments, shall be submitted to the Revenue District Office (RDO), Large
               Taxpayer Division Office (LTDO), or LT Documents Processing and Quality Assurance Division (LTDPQAD) of the Large Taxpayer Service, where the ERPs are duly registered, pursuant to existingrevenue guidelines and procedures. The ERPs’ copy of the TPC shall be retained by them while the BIR’s copy of the TPC shall be used for recording purposes in the collection books of the BIR.
                    A TPC shall have a validity period of thirty (30) days counted from date of issue, and can
only be used once. The date indicated on the face of the TPC shall be presumed to the be the date of
issuance. In the event that a TPC is not presented or utilized for tax payment to the BIR, the ERPs
should immediately surrender and return the original copy of the TPC to DTI-BOI for reinstatement
in the PCMIA (i.e., Participating Car Maker Incentive Account): Provided, That the surrender thereof
is made within the validity period of the TPC, otherwise the same shall be forfeited in favor of the
government.