Expanded Withholding Tax on Gross Payments to Cinematographic Film Owners, Lessors or Distributors

September 2, 1985 BIR RULING NO. 153-85 53-f 000-00 153-85 Gentlemen : In reply to your letter dated August 6, 1985, I have the honor to inform you that the 5% expanded withholding tax on gross payments (cinematographic film rentals and other payments) to resident individuals and corporate cinematographic film owners, lessors or distributors prescribed under Section 1 (d) of Revenue Regulations No. 6-85, otherwise known as the Revised and Consolidated Expanded Withholding Tax Regulations is not a final tax but a creditable income tax. (Sec. 1, Revenue Regulations No. 6-85) Pursuant to Section 53(f) of the Tax Code, which is being implemented by Revenue Regulations No. 6-85, said expanded withholding tax "shall be credited against the income tax liability of the taxpayer for the taxable year." Very truly yours, (SGD.) RUBEN B. ANCHETA Acting Commissioner