RMO No. 29-2018: Creates ATCs for selected Excise Taxes under RA No. 10963 (TRAIN Act)

Summary

RMO No. 29-2018 creates Alphanumeric Tax Codes (ATCs) for selected Excise Taxes under Republic Act No. 10963 (TRAIN Act).

Key points

1. Petroleum and petrochemical codes. XP105 (naphtha and pyrolysis gasoline for specified uses), XP165 (LPG as petrochemical raw material) and XP210 (petroleum coke as feedstock for power generation) are at zero rates for 2018, 2019 and 2020. XP085 (pyrolysis gasoline) is ₱7.00/liter, ₱9.00/liter and ₱10.00/liter for those years. XP200 (petroleum coke) is ₱2.50/MT, ₱4.50/MT and ₱6.00/MT. All are reported in BIR Form 2200-P.
2. Vehicle codes. XG065 (hybrid vehicles, 50% of applicable rates) is 4% up to P 600,000.00, 10% over P 600,000.00 to P 1,000,000.00, 20% over P 1,000,000.00 to P 4,000,000.00 and 50% over P 4,000,000.00. XG068 (purely electric hybrid vehicles) and XG055 (pick-ups) are exempt. All are reported in BIR Form 2200-AN.
3. Services code. XC010 covers performance of services on invasive cosmetic procedures at 5%, reported in BIR Form 2200-C/0605.

Deadlines and effectivity

• Petroleum rates effective January 1, 2018, January 1, 2019 and January 1, 2020

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