Creation of A New Category of Alphanumeric Tax Code (ATC) for R.A. No. 7717

1994 REVENUE MEMORANDUM ORDER NO. 51-94 (amended by RMO 1-95) SUBJECT : Creation of A New Category of Alphanumeric Tax Code (ATC) for R.A. No. 7717 TO : All Collection Agents, Revenue District Officers and other Internal Revenue Officers Concerned 1. OBJECTIVE AND PROCEDURES 1.1 In order to incorporate the provisions of R.A. No. 7717, which inserts a new section in the National Internal Revenue Code as Section 124-A, the following classification is hereby created under Title V (Other Percentage Taxes) with the following alphanumeric tax code: Kind of Tax ATC Stock Transaction traded through the local stock exchange or public offering PT 200 1.2 To ascertain the proper reporting of stock transactions in the revised BIR Form 12.09, the classification shall be transferred from Schedule 1 (Tax on Net Income and Profits) to Schedule 5 (Percentage Tax on Services). cd 2. REPEALING CLAUSE The ATCs of stock transactions traded through the local stock exchange are hereby dropped. These include WI 170 and WC 170. 3. EFFECTIVITY This Revenue Memorandum Order shall take effect immediately and shall be incorporated in the 12.09 reports and any other statistical reports to be prepared by all offices starting the month of June, 1994. LIWAYWAY VINZONS-CHATO Commissioner