RMO No. 05-2015: Amends RMO No. 4-2015 on the allocation of the CY 2015 BIR collection goal by implementing office

Summary

RMO No. 05-2015 amends RMO No. 4-2015 on the allocation of the CY 2015 BIR collection goal by implementing office, to address the effect of Republic Act No. 10653 on the BIR’s annual revenue target.

Key points

1. Reason for the amendment. Republic Act No. 10653 adjusts the 13th month pay and other benefits ceiling excluded from the computation of gross income for income taxation, amending Section 32(B), Chapter VI of the NIRC of 1997, as amended. The Order adjusts the allocation to reflect its impact on the annual revenue target.

Deadlines and effectivity

• Covers CY 2015

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