Tax Resources PH icon

TAX RESOURCES PH

Tax resources for Filipinos

RMC No. 36-2004: Circularizes Supreme Court’s decision that pawnshops are not subject to the 5% lending investor’s tax.

Files
Download this file

Summary

RMC No. 36-2004 circularizes the Supreme Court’s decision that pawnshops are not subject to the 5% lending investor’s tax under Section 116 of the National Internal Revenue Code of 1977, as amended.

CollapseExpand

Key points

  1. Assessments cancelled. In view of the decision, all assessments on pawnshops for percentage taxes as lending investors are cancelled.
  2. Gross receipts tax. For purposes of the gross receipt tax under Republic Act No. 9294, pawnshops are now subject to it.

Who is affected

  • Pawnshops

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.