In order to ensure better coordination with the Bureau of Internal Revenue in the implementation of Memorandum Circular No. 2001-011, and considering the time needed to advise the different regional offices as to the details surrounding the implementation of the said circular, the implementation of Memorandum Circular No. 2001-011 is hereby suspended until further orders from the Board.

This Circular shall take effect immediately.

Adopted: 22 March 2001

(SGD.) DANTE M. LANTIN Chairman
(SGD.) VIGOR D. MENDOZA II Board Member	(SGD) REMEDIOS G. BELLEZA Board Member