Summary
RMO No. 35-2008 creates and modifies Alphanumeric Tax Codes under Revenue Regulations No. 30-2003, increasing withholding tax rates on certain income payments and adding them to BIR Form No. 1601-E.
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Key points
- Medical practitioners. For payments by a duly registered professional partnership to medical practitioners, ATC WI 141 applies at 10% if the current year’s income payments are P720,000 and below. ATC WI 142 applies at 15% if they exceed P720,000. The existing code WI 141 listed a flat 10%.
- Partners in general professional partnerships. For payments by a general professional partnership to its partners, ATC WI 152 applies at 10% if the current year’s income payments are P720,000 and below. ATC WI 153 applies at 15% if they exceed P720,000.
Who is affected
- Medical practitioners paid by a registered professional partnership
- Partners of general professional partnerships
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.