Summary
RMO No. 32-2009 creates the Alphanumeric Tax Code (ATC) for certain income payments subject to Expanded Withholding Tax under Revenue Regulations No. 6-2009.
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Key points
- Payments for goods. Income payments of the top five thousand (5,000) individual taxpayers to local or resident suppliers of goods, other than those under other withholding rates, use ATC WI670 for individuals and WC670 for corporations. The rate is 1%.
- Payments for services. Income payments of the top five thousand (5,000) individual taxpayers to local or resident suppliers of services, other than those under other withholding rates, use ATC WI672 for individuals and WC672 for corporations. The rate is 2%.
- Return and basis. Both are subject to creditable withholding tax, are based on RR No. 6-2009, and are reported on BIR Form 1601E.
Who is affected
- Top 5,000 individual taxpayers
- Their local or resident suppliers of goods and services
Deadlines and effectivity
- Issued November 11, 2009
Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.
Copies of BIR issuances are hosted here for reference. For the official version, check bir.gov.ph. Summaries by Tax Resources PH are not a substitute for the full text or professional advice.