REVENUE MEMORANDUM ORDER NO. 21-2012 issued on September 10, 2012 prescribes the policies and guidelines in the acceptance, processing, evaluation and approval of Applications for Monetization and issuance of Notice of Payment Schedule (NPS) of outstanding Value-Added Tax (VAT) Tax Credit Certificates (TCCs) that were issued prior to April 12, 2012 solely by the BIR and jointly by the One-Stop-Shop Inter-Agency Tax Credit and Duty Drawback Center (OSS Center) of the Department of Finance (DOF) and the BIR relative to the implementation of the Monetization Program pursuant to Executive Order No. 68 and Joint Circular No. 2-2012. The Collection Service (CS) thru the Collection Programs Division (CPD), the Large Taxpayers Service (LTS), Large Taxpayer District Office (LTDO)-Makati and Cebu, and all the Revenue District Offices (RDOs) under Revenue Region (RR) No. 8-Makati City shall send letters to all VAT TCC-holders under their jurisdiction with unutilized VAT TCCs balance. For VAT TCCs that were jointly issued by the DOF-OSS Center and the BIR, however, the sending out of the notification letters to all the concerned taxpayers shall be the responsibility of the former. All applications for enrollment to the VAT TCC Monetization Program shall be submitted to the following receiving offices: Description Offices to Receive Applications a. TCCs originally issued and signed by the Regional Director Revenue District Office (RDO) b. TCCs originally issued and signed by the Deputy Commissioner-Operations Group (DCIR-OG) or the Assistant Commissioner Assessment Service (ACIRAS) Assessment Service c. TCCs originally issued and signed by the Commissioner of Internal Revenue or the ACIR, LTS Large Taxpayers Regular Audit Division 1-3, Large Taxpayers Excise Audit Division 1 & 2, Large Taxpayers District Offices Makati and Cebu d. TCCs originally issued and signed by the DCIR, Legal and Inspection Group (DCIR-LIG) or the ACIR, Legal Service–for cases decided by the Court of Tax Appeals (CTA) or the Supreme Court of the Philippines Appellate Division e. TCCs that were transferred and/or revalidated, issued and signed by DCIR-OG or ACIR, CS Collection Programs Division (CPD) f. TCCs originally issued by the DOF/OSS Center and the BIR DOF-OSS Center Applications for VAT TCC monetization shall be filed with the designated issuing offices not later than October 17, 2012. However, for VAT TCCs that are expiring in 2012 and 2013, the applications for monetization shall be filed by the concerned VAT TCC Holder-Applicant on or before the expiration of the VAT TCCs or September 15, 2012, whichever comes earlier. The duties and responsibilities of all the offices involved in the VAT TCC Monetization Program as well as the prescribed reporting requirements are specified in the Order.