Summary
RR No. 10-2004 implements Sec. 4 of Republic Act No. 9238 by reimposing the 5% Gross Receipts Tax (GRT) on other non-bank financial intermediaries beginning January 1, 2004. It amends Sec. 4 of Revenue Regulations No. 9-2004 to include pawnshops.
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Key points
- Pawnshops added. Pawnshops are now classified under other non-bank financial intermediaries subject to the 5% GRT.
- Re-registration. All pawnshops must re-register from VAT taxpayers to Percentage taxpayers, following procedures to be issued later by the Commissioner of Internal Revenue.
Who is affected
- Pawnshops
- Other non-bank financial intermediaries
Deadlines and effectivity
- 5% GRT beginning January 1, 2004
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.