Creation of Alphanumeric Tax Codes (ATCs) of Revenue Sources — For Proper Classification of Taxes
Revenue Memorandum Order No. 03-98 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Feb 2, 1998
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February 2, 1998 REVENUE MEMORANDUM ORDER NO. 03-98 SUBJECT : Creation of Alphanumeric Tax Codes (ATCs) of Revenue Sources For Proper Classification of Taxes TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective: In order to facilitate identification and monitoring of certain taxes required for CTRP (R.A. No. 8424) and for ITS purposes, the following ATCs are hereby created. KIND OF TAXES ISSUANCE/ ATC LEGAL BASIS Subject to Final Withholding Tax: 1. On foreign currency deposits - Resident-Individual Sec. 24 (B)(1) WI170 - Resident-Corporate Sec. 28 (A)(7)(a) WC170 2. On fringe benefits paid to supervisors/managers Sec. 33 (A) WC360 by the corporation 3. On improperly accumulated earnings Sec. 29 (A) WC370 4. On royalties on books, literary works and Sec. 24 (B)(1) WI380 musical compositions 5. On cash dividends Sec. 24 (2) WI390 6. On property dividends Sec. 24 (2) WI400 II. Effectivity: This Revenue Memorandum shall take effect immediately. LIWAYWAY VINZONS-CHATO Commissioner
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