RMC No. 139-2019: Prescribes the use of the enhanced BIR Form Nos. 1601-EQ and 1602Q January 2019 (ENCS)

Summary

RMC No. 139-2019 prescribes the use of the enhanced BIR Form Nos. 1601-EQ and 1602Q, January 2019 (ENCS).

Key points

1. BIR Form No. 1601-EQ. The Quarterly Remittance Return of Creditable Income Taxes Withheld (Expanded) is revised for changes in the rate of Creditable Withholding Tax on MERALCO payments and on interest income from debt instruments outside deposit substitutes, per RR No. 1-2019.
2. BIR Form No. 1602Q. The Quarterly Remittance Return of Final Taxes Withheld on Interest Paid on Deposits and Yield on Deposit Substitutes/Trusts/Etc. is revised for RR No. 8-2019. That regulation prescribed BIR Form Nos. 0620 and 1621 for remitting tax withheld on amounts withdrawn from a decedent’s deposit account.
3. Availability and filing. The revised manual returns are on the BIR website (www.bir.gov.ph) but not yet in eFPS and eBIRForm. eFPS and eBIRForms filers use the existing versions in eFPS and the Offline eBIRForms Package v7.5. Manual filers download, print and fully fill out the PDF, otherwise penalties under Sec. 250 of the Tax Code apply.
4. Payment channels. Manual payment is through an Authorized Agent Bank in the RDO where the taxpayer is registered, or with the Revenue Collection Officer through the Mobile Revenue Collection Officer System where there is no AAB. Online payment is through GCash, the Landbank Linkbiz Portal, or Development Bank of the Philippines Tax Online.

Who is affected

• Filers of BIR Form Nos. 1601-EQ and 1602Q
• eFPS and eBIRForms filers
• Manual filers

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