RMC No. 75-2024: Prescribing the mandatory requirements for claims for tax credit or refund of excess/unutilized Creditable Withholding Taxes on income pursuant to Section 76(C), in relation to Section 204(C) and 229 of the National Internal Revenue Code of 1997, as amended, except those under the authority and jurisdiction of the Legal Group

Key points

1. Where to file. The claimant submits BIR Form No. 1914 to the Revenue District Office, or the Large Taxpayers Audit Division or Large Taxpayers District Office under the LTS, whichever has jurisdiction.
2. 2-year processing for closing businesses. The office decides and refunds the excess taxes within two (2) years from dissolution or cessation of business, an exception to the 180-day processing under Section 204(C). The 2 years run from submission of BIR Form No. 1905 with the complete requirements for business closure and refund under Section 76(C).
3. Checklists. Only applications with the full Checklist of Mandatory Requirements are processed: Annex A.1 for taxpayers of going concern status and Annex A.2 for those in dissolution or cessation of business.
4. Matrix and attestation. The claimant provides a comparative matrix of tax withheld in the format of Annex A.3 and a notarized Taxpayer Attestation (Annex A.4) on the completeness of documents. Claims are processed on the documents submitted, and books of accounts are presented on written request, with failure to present them a ground for denial.
5. Cooperation and returns considered. The claimant cooperates and keeps documents available so the 180-day processing is not delayed, with possible full or partial denial for failure. Quarterly and Annual Income Tax Returns filed before the application date or the issuance of the electronic Letter of Authority, whichever comes first, are considered in processing.

Who is affected

• Taxpayer-claimants of excess or unutilized creditable withholding tax
• Taxpayers of going concern status
• Taxpayers in dissolution or cessation of business

Deadlines and effectivity

• Refund decided within two (2) years from dissolution or cessation of business
• Otherwise 180-day processing