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RMO No. 06-2005: Creates Alphanumeric Tax Codes for income payment subject to creditable withholding taxes

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Summary

RMO No. 06-2005, issued March 15, 2005, creates Alphanumeric Tax Codes for income payments subject to creditable withholding taxes.

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Key points

  1. New tax codes. WC050 applies if the current year’s gross income is P 720,000 and below, and WC051 applies if it exceeds P 720,000. The codes help identify and monitor withholding taxes and serve Integrated Tax System purposes.

Who is affected

  • Payees of income subject to creditable withholding tax

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

Related issuances (2)

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CitesRMO No. 03-2004RR No. 30-2003

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.