Summary
RMO No. 18-2022 modifies the Alphanumeric Tax Codes (ATC) of selected revenue sources under RA No. 10963 (TRAIN Act).
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Key points
- Codes modified. The ATC are II030 and IC110, for capital gains from sale of shares of stock not traded in the local stock exchange, by an individual, a domestic corporation and a foreign corporation. BIR Forms 1707 and 1707-A apply.
- Rates shown. The existing rates are listed as 5% and 10%, and the modified rate is 15%. The legal basis is RA No. 10963 for individuals and domestic corporations, and RA No. 11534 and RR No. 2-2021 for foreign corporations.
Who is affected
- Individuals, domestic corporations and foreign corporations selling shares of stock not traded in the local stock exchange
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.