RMO No. 06-2005 — Creates Alphanumeric Tax Codes for income payment subject to creditable withholding taxes Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City March 15, 2005 REVENUE MEMORANDUM ORDER NO. 6 - 2005 SUBJECT : Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source TO under the Tax Forms Enhancement Program : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective : To facilitate the proper identification and monitoring of Withholding Taxes pursuant to Revenue Regulation No. 30-2003 and for Integrated Tax System purposes, the following ATCs are hereby created: KIND OF TAX ISSUANCE/ BIR FORM ATC LEGAL BASIS/ NO. WC050 REASONS 1601-E; WC051 2307 Income Payment subject to creditable Withholding Taxes Management and technical consultants RR No. 30-2003 - If the current year's gross income is Sec. 3(A)(7) P720,000 and below (10%) - If the current year's gross income exceeds P720,000 (15%) II. Repealing Clause : This Revenue Memorandum Order revises portions of all other issuances inconsistent herewith. III. Effectivity : This Revenue Memorandum Order shall take effect immediately. (Original Signed) GUILLERMO L. PARAYNO, Jr. Commissioner of Internal Revenue b-3/jev C:\2004\ATC Handbook\RMO-ATC\rmo3-04.doc