Publishing Revenue Regulations 12-86, Amending Pertinent Provisions of Revenue Regulations 6-82, as Amended, Otherwise Known as the Withholding Tax Regulations on Compensation

August 18, 1986 REVENUE MEMORANDUM CIRCULAR NO. 29-86 SUBJECT : Publishing Revenue Regulations 12-86, Amending Pertinent Provisions of Revenue Regulations 6-82, as Amended, Otherwise Known as the Withholding Tax Regulations on Compensation TO : All Revenue Officers and Others Concerned For the information and guidance of all concerned, published as Annex "A" hereof is Revenue Regulations No. 12-86, amending pertinent provisions of Revenue Regulations No. 6-82, as amended, otherwise known as the Withholding Tax Regulations on Compensation, prescribing the collection at source of income tax on compensation income paid on or after January 1, 1986 under Withholding Tax Tables effective January 1, 1986 which take into account the increases in personal exemption and the option of married individuals to compute separately their individual income tax based on their respective taxable income pursuant to Executive Order No. 37. cdt It is further informed that the Interim Report required under Section 9(2) of aforesaid regulations shall be submitted not later than September 10, 1986, together with the monthly Remittance Return of Taxes Withheld on Compensation (BIR Form 1743 W) for the month of August 1986 as instructed at the back of the Interim Report form. cd (SGD.) BIENVENIDO A. TAN, JR. Commissioner