Creation and Renaming of Alphanumeric Tax Codes (ATCs) for Fringe Benefit Taxes

March 23, 2001 REVENUE MEMORANDUM ORDER NO. 08-01 SUBJECT : Creation and Renaming of Alphanumeric Tax Codes (ATCs) for Fringe Benefit Taxes TO : All Collection Agents, Revenue District Officers and Other Internal Revenues Officers Concerned I. Objective To facilitate identification and monitoring of Fringe Benefit Tax collections based on BIR Form No. 1603 (Quarterly Remittance Return of Final Income Taxes Withheld) and for Integrated Tax System (ITS) purposes, the following ATCs are hereby created and renamed: ISSUANCE/LEGAL KIND OF TAXES BASIS/REASONS ATC A. Creation of ATC for Tax on Income and Profit Final Withholding Tax on Fringe Benefits 1. On payments to alien individual employed by: RR No. 3-98 WF320 Regional or Area Headquarters and To segregate Regional Operating Headquarters of collections from final multinational companies withholding tax on OBUs of a foreign bank established in fringe benefits covered the Philippines by BIR Form No. 1603 Foreign Petroleum Service Contractors as against all other and Subcontractors engaged in petroleum income, which are operations in the Philippines likewise subject to final Filipinos therein employed occupying the withholding tax, same position as those occupied by the covered by BIR Form alien employee. No. 1601-F under 2. On payments to non-resident alien ATCs W1320 and WF330 individuals not engaged in trade or business W1330 in the Philippines. ISSUANCE/ ATC KIND OF TAXES LEGAL BASIS/ From To (RMO No. 14-99) B. Renaming of ATC for Tax on Income and Profit REASONS Final Withholding Tax on Fringe Benefits 1. On payments to employees (except rank and RR No. 3-98 W1360 WF360 files) of fringe benefits based on the grossed up Fringe benefit monetary value received by employees (except rank and files) is subject to final withholding tax covered by BIR Form No. 1603. II. Repealing Clause : This order revises portions of all other issuances inconsistent herewith. III. Effectivity This Revenue Memorandum shall take effect immediately. DCScaT (SGD.) RENE G. BAEZ Commissioner of Internal Revenue