Modification of the Description of Alphanumeric Tax Code (ATC) for Creditable Withholding Tax on Income Payments Made by Political Parties and Candidates of Local and National Elections Pursuant to Revenue Regulations No. 10-2009

August 13, 2010 REVENUE MEMORANDUM ORDER NO. 070-10 SUBJECT : Modification of the Description of Alphanumeric Tax Code (ATC) for Creditable Withholding Tax on Income Payments Made by Political Parties and Candidates of Local and National Elections Pursuant to Revenue Regulations No. 10-2009 TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective: To clarify the nature of creditable withholding tax covered by the Alphanumeric Tax Code (ATC) prescribed in Revenue Memorandum Order No. 33-2009 pursuant to Revenue Regulations No. 10-2009, the description of the following ATCs is hereby modified: aAEHCI Existing (per ATC Handbook) Modified BIR Tax Legal Form ATC Description Rate Basis Description No. Income payments made Section 2 Income payments 1601E/ by political parties and of RR No. made by political 2307 candidates of local and 10-2009 parties and national elections of all candidates of local their campaign and national expenditures, and elections of all income payments made their purchase of by individuals or goods and services juridical persons for as campaign their purchases of expenditures, and goods and services income payments intended to be given made by individuals as campaign contribution or juridical persons to political parties and for their purchases candidates of goods and services intended to be given as campaign contribution to political parties and candidates W1680 i) Individual 5% WC680 ii) Corporate 5% II. Repealing Clause: This Revenue Memorandum Order (RMO) revises RMO No. 33-2009 and all other issuances inconsistent herewith. III. Effectivity: This RMO shall take effect immediately. (SGD.) KIM S. JACINTO-HENARES Commissioner of Internal Revenue