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RMO No. 16-2019: Modifies the Alphanumeric Tax Code for Withholding Taxes in BIR Form No. 1601-EQ pursuant to RR No. 1-2019

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Summary

RMO No. 16-2019 modifies the Alphanumeric Tax Codes (ATCs) for withholding taxes in BIR Form No. 1601-EQ, pursuant to RR No. 1-2019.

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Key points

  1. MERALCO refunds. ATCs WI650/WC650 cover refunds to customers with active contracts, and WI651/WC651 cover refunds to customers with terminated contracts, each for individual and corporate payees.
  2. Meter deposit interest. ATCs WI661/WC661 cover interest on meter deposit refunds of Non-Residential customers above 200 kwh monthly consumption as classified by MERALCO. ATCs WI663/WC663 cover the same for customers of other electric Distribution Utilities.
  3. Other debt instruments. ATCs WI710/WC710 cover interest income from other debt instruments outside deposit substitutes and RR No. 14-2012.
  4. Rates. The Order lists an existing and a modified tax rate for each ATC, for individual and corporate payees.

Who is affected

  • Withholding agents filing BIR Form No. 1601-EQ

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (4)

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CitesRR No. 1-2019RR No. 1-2020RR No. 14-2012RR No. 14-2020

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.