REVENUE REGULATIONS NO. 11-2012 issued on August 17, 2012 amends certain
provisions of RR No. 1-2011 dated February 24, 2011 relative to the documentation of
remittances made by Overseas Contract Worker or Overseas Filipino Worker and other matters.
The remittances of all Overseas Contract Workers (OCWs) or Overseas Filipino Workers
(OFWs), upon showing of the Overseas Employment Certificate or valid Overseas Workers
Welfare Administration (OWWA) Membership Certificate or electronic receipt issued by
Philippine Overseas Employment Administration (POEA), by the OCW or OFW beneficiary or
recipient shall be exempt from the payment of Documentary Stamp Tax.
In case of OCWs or OFWs whose remittances are sent through the banking system,
credited to beneficiaries or recipient’s account in the Philippines and withdrawn through an
automatic teller machine, or sent through non-bank money transfer agents, it shall be the
responsibility of the OCW or OFW to show the valid proof of entitlement when making
arrangement for his/her remittance transfers.
For monitoring purposes, local banks and non-bank money transfer agents are required to
document remittances made by OCWs or OFWs following the format below:
OFW Remittances for the First Quarter of 2012
(Exempt from DST imposed under Sec. 181 of the NIRC, as amended, per R.A. No. 10022)
Name of
OCW/OFW
Sender
Name of Recipient Amount
(in Peso or
Peso
Equivalent)
Proof of
Entitlement to DST
exemption (i.e.,
OEC, e-receipt, or
OWWA
Membership
Certificate)
Date of Transaction
Remittance
Date
Encashment
Date
1. Juan Dela Cruz Jane Dela Cruz 20,000 **** Feb 1, 2012 Feb 1, 2012
**** [Indicate Control Number provided by the POEA]
The above information is required to be furnished to the Revenue District Office or Audit
Division under the Large Taxpayers Service where the banks and non-bank money transfer
agents are registered on a quarterly basis, to be submitted on or before the 20th day following the
close of the quarter.