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RMO No. 08-2001: Creates and renames the Alphanumeric Tax Codes (ATCs) for the Final Withholding Tax on Fringe Benefits

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Summary

RMO No. 8-2001 creates and renames Alphanumeric Tax Codes (ATCs) for the Final Withholding Tax on Fringe Benefits.

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Key points

  1. New ATCs. WF320 is created for payments to alien individuals. WF330 is created for payments to non-resident alien individuals not engaged in trade or business in the Philippines.
  2. Renamed ATC. The ATC for fringe benefits paid to employees (except rank and file) based on grossed up monetary value is renamed WF360.

Who is affected

  • Alien individuals
  • Non-resident alien individuals not engaged in trade or business in the Philippines
  • Employees other than rank and file

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.