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RMO No. 17-2001: Creates new Alphanumeric Tax Codes (ATCs) for marginal income earners and for other income earnings not otherwise classified as compensation or business income or income derived from the practice of profession

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Summary

RMO No. 17-2001 creates new Alphanumeric Tax Codes (ATCs) for marginal income earners and for other income not classified as compensation, business income or income from the practice of profession.

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Key points

  1. New Individual Income Tax ATCs. II040 is for earnings derived by marginal income earners. II041 is for other income that is not compensation, business income or income from the practice of profession.

Who is affected

  • Marginal income earners
  • Individuals with other income not classified as compensation, business or professional income

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.