RMO No. 33-2009: Creates the Alphanumeric Tax Code (ATC) for additional income payments subject to Creditable Withholding Tax per Revenue Regulations No. 8-2009

Summary

RMO No. 33-2009 creates the Alphanumeric Tax Code (ATC) for additional income payments subject to Creditable Withholding Tax under Revenue Regulations No. 8-2009.

Key points

1. Payments covered. The ATC covers income payments of political parties and candidates of local and national elections for all their campaign expenditures. It also covers payments by individuals or juridical persons for goods and services intended as campaign contributions to political parties and candidates.
2. Codes and rate. Use ATC WI680 for individuals and WC680 for corporations. The rate is 5%, based on RR No. 8-2009 and reported on BIR Form 1601E.

Who is affected

• Political parties and candidates in local and national elections
• Individuals and juridical persons making campaign contributions in goods and services

Deadlines and effectivity

• Issued November 11, 2009

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