Summary
RR No. 3-2004 suspends until further notice the implementation of the Withholding Tax provision on income payments made to suppliers of agricultural products.
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Key points
- Suspension. The withholding tax provision on payments to suppliers of agricultural products is suspended until further notice.
- Amounts already withheld. Amounts withheld under Section 2.57.2(S) of RR No. 2-98, as amended, before these Regulations took effect are reported and remitted to the Bureau by the withholding agent. This is done on or before the 10th of the month following the month of withholding. The electronic filing deadline follows the Electronic Filing and Payment System (EFPS) rules.
- Deductibility. For the payments to be deductible against the withholding agent’s income, the amount required under that section of RR No. 2-98, as amended, must have been properly withheld, reported and remitted.
Who is affected
- Withholding agents paying suppliers of agricultural products
Deadlines and effectivity
- Effective beginning March 1, 2004
- Report and remit on or before the 10th of the following month
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.