Creation of Alphanumeric Tax Code (ATC) for Microfinance Non-Government Organizations (NGOs)
Revenue Memorandum Order No. 027-17 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Aug 29, 2017
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August 29, 2017 REVENUE MEMORANDUM ORDER NO. 027-17 SUBJECT : Creation of Alphanumeric Tax Code (ATC) for Microfinance Non-Government Organizations (NGOs) TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. OBJECTIVE: To facilitate the proper identification of tax collection from Microfinance NGOs pursuant to Republic Act No. 10693, otherwise known as the "Microfinance NGOs Act," which was implemented by Revenue Regulations No. 3-2017, and in connection with the Bureau's Tax Forms Enhancement Program, the following ATC is hereby created: ATC Description Tax Rate Legal Basis BIR Form PT118 Preferential tax rate on Microfinance NGOs 2% Sec. 20 of RA No. 10693 RR No. 3-2017 2551M II. REPEALING CLAUSE: This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. III. EFFECTIVITY: This RMO shall take effect immediately. (SGD.) CAESAR R. DULAY Commissioner of Internal Revenue
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