Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source per Revenue Regulations No. 14-2012
Revenue Memorandum Order No. 027-12 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Dec 26, 2012
Full text
December 26, 2012 REVENUE MEMORANDUM ORDER NO. 027-12 SUBJECT : Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source per Revenue Regulations No. 14-2012 TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective : To facilitate the proper identification and monitoring of certain income payments subject to Expanded Withholding Tax pursuant to Revenue Regulations No. 14-2012 (Proper Tax Treatment of Interest Income Earnings on Financial Instruments and Other Related Transactions), the following ATCs are hereby created: ATC Description Legal Basis Tax Rate BIR Form No. Interest income derived RR No. 14-2012 from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 subject to Creditable/ Expanded Withholding Tax WI 710 i) Individual 20% 1601-E/2307 WC 710 ii) Corporate 20% 1601-E/2307 II. Repealing Clause : This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. III. Effectivity : This RMO shall take effect immediately. CaEIST (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue <ftp://ftp.bir.gov.ph/webadmin1/pdf/67567RMO%2027-2012.pdf> last visited January 7, 2012 .
Ask what this means for your situation
The assistant quotes the passage it relies on and links the source, so you can check every figure it gives you.