Summary
RR No. 7-2000 amends Sec. 2.83.3 of RR No. 2-98 on the list of income payees that is attached to the Annual Information Returns.
Key points
- Diskette option. Instead of the manually-prepared alphabetical list of employees, payees and income payments subject to creditable and final withholding taxes, the Withholding Agent may submit 3.5 inch floppy diskettes with the lists.
- Required for larger filers. Large taxpayers, excise taxpayers and other taxpayers with fifty (50) or more employees or income payees must submit the lists in magnetic form on 3.5-inch floppy diskettes. They go to the Large Taxpayers Assistance Division, Large Taxpayers District Offices, Excise Taxpayers Assistance Division or the Revenue District Office having jurisdiction.
- Submission deadlines. Lists for income payments subject to compensation and final withholding taxes are due on or before January 31 of the succeeding year. Lists for those subject to creditable expanded withholding taxes are due on or before March 1 of the following year.
Who is affected
- Withholding agents
- Large taxpayers and excise taxpayers
- Taxpayers with fifty (50) or more employees or income payees
Deadlines and effectivity
- Compensation and final withholding taxes list: on or before January 31 of the succeeding year
- Creditable expanded withholding taxes list: on or before March 1 of the following year
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.