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RR No. 01-2004: Amends further portions of RR No. 2-98, as amended, exempting marginal income earners from Creditable Withholding Tax on payments made by hotels, restaurants, resorts, caterers, food processors, canneries, supermarkets, livestock, poultry, fish and marine product dealers, hardwares, factories, furniture shops, and all other establishments

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Summary

RR No. 1-2004 further amends RR No. 2-98, as last amended by RR No. 30-2003. It exempts agricultural suppliers who are marginal income earners from Creditable Withholding Tax on payments made by hotels, restaurants, supermarkets, factories and all other establishments.

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Key points

  1. Exemption. Agricultural suppliers who are marginal income earners are exempt from Creditable Withholding Tax on payments from the listed establishments.
  2. Who is a marginal income earner. As defined in Revenue Regulations No. 11-2000, these are self-employed individuals not deriving compensation as employees. Their gross sales or receipts do not exceed P100,000.00 during any 12-month period.
  3. Retroactive effect. The Regulations retroact to January 1, 2004.

Who is affected

  • Agricultural suppliers who are marginal income earners

Deadlines and effectivity

  • Retroactive to January 1, 2004

Summary by Tax Resources PH. It is not a substitute for the full text of the issuance or professional advice.

Related issuances (7)

Cites, Cited by CollapseExpand
CitesRR No. 02-98RR No. 11-2000RR No. 30-2003
Cited byRMC No. 44-2007RMC No. 72-2004RMO No. 04-2004RR No. 03-2004

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.