Creation of New Alphanumeric Tax Codes (ATCs) of Revenue Sources — For Proper Classification of Taxes

July 31, 2000 REVENUE MEMORANDUM ORDER NO. 28-00 SUBJECT : Creation of New Alphanumeric Tax Codes (ATCs) of Revenue Sources For Proper Classification of Taxes TO : All Collection Officers, Revenue District Officers and Other Internal Revenue Officers Concerned I. Coverage Pursuant to the provisions of Republic Act No. 8761 An Act Imposing the Value-Added Tax on Certain Services, Beginning January 1, 2001, Amending for the Purpose Section 5 of Republic Act No. 8424 and for Other Purposes, new ATCs are hereto created, to cover taxes paid by stock, real estate, commercial, customs and immigration brokers. For proper identification and monitoring of internal revenue collections, the following ATCs are hereby created: ISSUANCE/ KIND OF TAX LEGAL BASIS/ ATC REASONS 1. Other Percentage Tax Sec. 5(c) of RA No. PT210 8761 On services rendered by stock, real estate, commercial, customs and immigration brokers 2. Withholding Tax on Business Sec. 5(c) of RA No. WB210 8761 On services rendered by stock, real estate, commercial, customs and immigration brokers The aforementioned ATCs shall apply effective January 1, 2000. Provided that, beginning January 1, 2001 the same shall be dropped and replaced by new ATCs to cover income earned from the above-mentioned transaction which will then be subjected to VAT. SHIETa ISSUANCE/ KIND OF TAX LEGAL BASIS/ ATC REASONS 1. Value-Added Tax Sec. 5(c) of RA No. VB210 8761 Business Services On services rendered by stock, real estate, commercial, customs and immigration brokers 2. Withholding of Creditable VAT Sec. 5(c) of RA No. WV210 8761 On services rendered by stock, real estate, commercial, customs and immigration brokers II. Repealing Clause This order revises portions of all other issuances inconsistent herewith. III. Effectivity This Revenue Memorandum shall take effect immediately. (SGD.) DAKILA B. FONACIER Commissioner of Internal Revenue