RMO No. 6-2020: Modifies the Alphanumeric Tax Code for Value-Added Tax pursuant to Revenue Regulations No. 10-2004 (re-imposing the Gross Receipts Tax on other non-bank financial intermediaries beginning January 1, 2004 which include pawnshops)

Key points

1. Reason for the change. RR No. 10-2004 and RMC No. 73-2004 re-impose the Gross Receipts Tax on other non-bank financial intermediaries beginning January 1, 2004, which includes pawnshops.
2. Modified ATC description. ATC VB102 at 12%, filed on BIR Form Nos. 2550M/2550Q, changes from Lending Investors/Dealer in Securities/Pawnshops/Pre-Need Co. to Lending Investors/Dealer in Securities/Pre-Need Co.

Who is affected

• Pawnshops
• Lending investors, dealers in securities and pre-need companies

Deadlines and effectivity

• Gross Receipts Tax on pawnshops re-imposed beginning January 1, 2004