BIR Ruling [DA-001-99]
BIR Ruling [DA-001-99] • Bureau of Internal Revenue (BIR) Issuances • Rulings (Unnumbered) • Jan 5, 1999
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January 5, 1999 BIR RULING [DA-001-99] Mr. Emelino T. Maestro, CPA Tax Accountant 2120 Sma. Trinidad, Balik-balik Sampalok, Manila 1008 S i r : This refers to your letter dated September 12, 1998 addressed to Hon. Edgardo Espiritu, Secretary of Finance, and copy furnished this Office, requesting confirmation that expanded withholding tax (EWT) is also treated as a deduction from minimum corporate income tax (MCIT). Your opinion is hereby confirmed. If the taxpayer is liable to the MCIT and at the same time has an EWT, the taxpayer may deduct the EWT from the MCIT and if there is still an excess EWT, he may request for tax credit or refund of the tax withheld. In this connection, please be informed that this Office will be coming up with a Revenue Memorandum Circular (RMC) to disseminate the proper treatment of issues not covered by Revenue Regulations No. 9-98, such as your above query. We shall be happy to provide you with copy of this Circular upon its release. Very truly yours, (SGD.) BEETHOVEN L. RUALO Commissioner of Internal Revenue
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