Modification of Alphanumeric Tax Code (ATC) for Value-Added Tax under Revenue Regulations No. 8-2002 (Amending Further Pertinent Provisions of Revenue Regulations No. 7-95, as Amended, with Respect to the Time of Filing of Quarterly VAT Returns; Contents and Submission of Quarterly Total of Monthly Sales and Purchases Per Supplier or Customer, and Providing for the Penalties and Effect of Non-Submission Thereof; and Clarifying Further the Mode of Remittance of VAT Due from Non-Residents)
Revenue Memorandum Order No. 054-19 • Bureau of Internal Revenue (BIR) Issuances • Revenue Memorandum Orders • Oct 7, 2019
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October 7, 2019 REVENUE MEMORANDUM ORDER NO. 054-19 SUBJECT : Modification of Alphanumeric TaxCode (ATC) for Value-Added Tax under Revenue Regulations No.8-2002 (Amending Further Pertinent Provisions of Revenue Regulations No.7-95, as Amended, with Respect to the Time of Filing of Quarterly VAT Returns; Contents and Submission of Quarterly Total of Monthly Sales and Purchases Per Supplier or Customer, and Providing for the Penaltiesand Effect of Non-Submission Thereof; and Clarifying Further the Mode of Remittance of VAT Due from Non-Residents) 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 Value-Added Tax in BIR Form Nos. 2550M (Monthly Value-Added Tax Declaration) and 2550Q (Quarterly Value-Added Tax Return) and to align the Alphanumeric Tax Codes in the forms with the ATC Handbook, pursuant to RR No. 8-2002, the following ATCs are hereby modified: HTcADC EXISTING (per ATC Handbook) MODIFIED/NEW BIR FORM NO. ATC Description Tax Rate Description Legal Basis VB102 Dealers on Securities/Lending Investors 12% Lending Investors/Dealer in Securities/Pawnshops/Pre-Need Co. RR No. 8-2002 2550M/2550Q Operators of Common Carriers with Respect to Transport Cargo Transport Storage and Communications VB105 - Land Based (Road Freight) 12% - Land Transport-Cargo VB108 - Aircraft 12% - Air Transport-Cargo VH010 On Community, Personal & Household Services 12% Other Community Social and Personal Service Activity 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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