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RMO No. 31-2018: Creates the Alphanumeric Tax Code for Petroleum Products under RA No. 10963 (TRAIN Act)

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Summary

RMO No. 31-2018 creates the Alphanumeric Tax Code for petroleum products under Republic Act No. 10963 (TRAIN Act).

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Key points

  1. New code. ATC XP220 covers additives for lubricating oils and greases, reported in BIR Form 2200-P.
  2. Rates. The rate is 8% effective January 1, 2018, 9% effective January 1, 2019 and 10% effective January 1, 2020.

Deadlines and effectivity

  • 8% effective January 1, 2018
  • 9% effective January 1, 2019
  • 10% effective January 1, 2020

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.