Board Directs Timely Issuance of Tax Clearance Certificates for Know-How Fee Remittances to Avoid Delays.

The circular issued by the Board on January 21, 1976, addresses concerns regarding delays in obtaining Tax Clearance Certificates for remittances related to lump-sum know-how fees to foreign collaborators. It highlights that individuals have faced significant difficulties due to these delays. The Board instructs that there should be no unnecessary delays in processing applications for No Objection or Tax Clearance Certificates. Supervisory officers are directed to conduct regular checks to ensure adherence to these instructions, thereby facilitating timely remittances.