RMO No. 27-2012 — Creates the Alphanumeric Tax Code for certain income payments subject to Expanded Withholding Tax Digest | Full Text

SUBJECT REPUBLIC OF THE PHILIPPINES TO DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City December 26, 2012 REVENUE MEMORANDUM ORDER NO. _27-2012_ : Creation of Alphanumeric Tax Code (ATC) of Selected Revenue Source per Revenue Regulations No. 14-2012 : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective: To facilitate the proper identification and monitoring of certain income payments subject to Expanded Withholding Tax pursuant to Revenue Regulations No. 14-2012 (Proper Tax Treatment of Interest Income Earnings on Financial Instruments and Other Related Transactions), the following ATCs are hereby created: ATC Description Legal Basis Tax Rate BIR Form RR No. 14-2012 No. Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-2012 subject to Creditable/ Expanded Withholding Tax WI 710 i) Individual 20% 1601-E/ WC 710 ii) Corporate 20% 2307 1601-E/ 2307 II. Repealing Clause: This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. III. Effectivity: This RMO shall take effect immediately. (Original Signed)O ed) ((( KIM S. JACINTO-HENARES Commissioner of Internal Revenue B-3/tbm