RMO No. 18-2022 — Modifies Alphanumeric Tax Code (ATC) of selected revenue source under RA No. 10963 (TRAIN Act) Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAIJ OF INTERNAL REVENUE Quezon City January 28,2022 Is:doa g REVENUE MEMoRANDUM oRDER NO. : SUBJECT Modification of Alphanumeric Tax Code (ATC) of Selected Revenue Soure under Republic Act (RA) No. 10963, othenrvise known as Tax Reform forAcceleration and Inclusion (TRAIN) Act TO : AllCollection Agents, Revenue District fficers and Other lntemal Revenue Offiers Concemed I. OBJECTIVE: To facilitate the proper identification and monitoring of tax collection from Capital Gains Tax in BIR Form Nos. '1707 (Capital Gains Tax Return for Onerous Transfer of Shares of Stocks Not Traded Through the Local Stock Exchange) and 1707-A (Annual Capital Gains Tax Return for Onerous Transfer of Shares of Stock Not Traded Through the Local Stock Exchange) pursuant to RA No. 10963, the following ATCs are hereby modified: EXISTING (per ATC Handbook) MODIFIED/ NEW ATC Description Tax Rate BIR Legal Basis il030 Form No. R.A. No.10963 Tax Rate rc1 10 On Capital Gains - From Sale of Shares of Stock not Traded in 5a/o 1747 t 15o/o rc1 10 the Local Stock Exchange 17A7 -A (lndividual) 100/ 15o/o On Capital Gains - From Sale of 5o/o 1707 t R.A. No. 10963 1SYo Shares of Stock not Traded in 1707 -A the Local Stock Exchange 1}Yo ( Domestic Corporation) 5o/o 1707 t R.A. No. 115341 On Capital Gains - From Sale of 10o/o 1707 -A RR No. 2-2021 Shares of Stock not Traded in the Local Stock Exchange (Foreign Corporation) rl. REPEALTNG CI.AUSE: This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. I!I. EFFECTIVIW: This RMO shalltake effect immediately. F CAESAR R. DUTAY B-3 Commissioner of lnternal Revenue .i! : ,' 051 40 4 I.: