RMO No. 09-2018: Creates and modifies the Alphanumeric Tax Code (ATC) of selected revenue source under RA No. 10963 (TRAIN Act)

Summary

RMO No. 09-2018 creates and modifies Alphanumeric Tax Codes (ATCs) for selected revenue sources under RA No. 10963 (TRAIN Act).

Key points

1. New ATC for decedent’s deposits. ATC WI165 covers Final Withholding Tax on Amounts Withdrawn from Decedent’s Deposit Account at 6% under Sec. 27 of RA No. 10963. It is reported on BIR Form 1602/2306.
2. New ATCs for cosmetic procedures. ATCs WI800 (individual) and WC800 (corporate) cover Final Withholding of Excise Tax on invasive cosmetic procedures at 5% under Sec. 46 of RA No. 10963. They are reported on BIR Form 1620-XC.
3. Modified DST ATCs. Existing Documentary Stamp Tax ATCs from DS101 to DS132 get new tax rates and a new legal basis in RA No. 10963. Examples are DS101 original issue of shares moving from P1.00 to P2.00 per P200.00, and DS105 bank checks moving from P1.50 to P3.00.
4. Other modified rates. DS109 life insurance brackets are changed, such as P10.00 becoming P20.00 and P25.00 becoming P50.00. Leases, mortgages, charter parties and other instruments also get doubled rates.
5. Real property transfers. DS122, covering Deeds of Sale and Conveyances of Real Property, becomes Deeds of Sale, Conveyances and Donation of Real Property under Sec. 69 of RA No. 10963. It is filed on BIR Form 2000 OT.

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