Modification of Alphanumeric Tax Code (ATC) for Percentage Taxes under Republic Act (RA) No. 10001, An Act Reducing Taxes on Life Insurance Policies, Amending for this Purpose Sections 123 and 183 of the National Internal Revenue Code of 1997, as Amended
Revenue Memorandum Order No. 036-19 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Jun 14, 2019
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June 14, 2019 REVENUE MEMORANDUM ORDER NO. 036-19 SUBJECT : Modification of Alphanumeric Tax Code (ATC) for Percentage Taxes under Republic Act (RA) No. 10001, An Act Reducing Taxes on Life Insurance Policies, Amending for this Purpose Sections 123 and 183 of the National Internal Revenue Code of 1997, as Amended TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. OBJECTIVE: To facilitate the proper identification and monitoring of tax collection from selected Percentages Taxes in BIR Form Nos. 2551M (Monthly Percentage Tax Return) and 2551Q (Quarterly Percentage Tax Return) pursuant to RA No. 10001, the following ATCs are hereby modified: EXISTING (per ATC Handbook) MODIFIED/NEW ATC Description Tax Rate BIR Form No. Legal Basis Tax Rate PT120 Life insurance premium 5% 2551M/2551Q RA No. 10001 2% Agents of Foreign Insurance Companies PT130 a. Insurance agents 10% 4% 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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