Summary
RMO No. 24-2009 creates Alphanumeric Tax Codes (ATC) under Revenue Regulations No. 2-2009 for creditable withholding tax on the interest portion of meter deposit refunds by MERALCO and other Distribution Utilities.
Key points
- What is covered. The ATCs apply to withholding on the gross amount of interest on the refund of meter deposits, whether paid directly to customers or applied against their billings. The tax is creditable withholding tax, reported on BIR Form 1601E.
- Codes for MERALCO customers. Residential and General Service customers whose monthly consumption exceeds 200 kwh as classified by MERALCO: WI660 for individuals and WC660 for corporations. Non-residential customers above 200 kwh: WI661 and WC661.
- Codes for other utilities. For customers above 200 kwh as classified by other electric Distribution Utilities, residential and general service use WI662 and WC662. Non-residential use WI663 and WC663.
Who is affected
- MERALCO and other electric Distribution Utilities
- Residential, general service and non-residential customers above 200 kwh monthly consumption
Deadlines and effectivity
- Issued July 9, 2009
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.