RMO No. 54-2019 — Modifies the Alphanumeric Tax Code (ATC) for Value-Added Tax under Revenue Regulations No. 8-2002 Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City October 7, 2019 REVENUE MEMORANDUM ORDER NO . '54 * 2OI q : SUBJECT Modification of Alphanumeric Tax Code (ATC) for ValueAdded Tax under Revenue Regulations No. 8-2OOZ (Amending Further Pertinent Provisions of Revenue Regulations No. 7-95, as amended, with respect to the time of Filing of Quarterly VAT Retums; Contents and Submission of Quarterly Total of Monthly Sales and Purchases Per Supplier or Customer, and Providing for the Penalties and Effect of Non-Submission Thereof; and Clarifying Further the Mode of Remittance of VAT Due from Non-Residents) TO : All Collection Agents, Revenue District fficers and Other lntemal Revenue Officers Concerned I, OBJECTIVE: To facilitate the proper identification and monitoring of tax collection from Value-Added Tax in BIR Form Nos. 2550M (Monthly Value-Added Tax Declaration) and 2550Q (Quarterly Value-Added Tax Return) and to align the Alphanumeric Tax Codes in the forms with the ATC Handbook, pursuant to RR No. 8-2002, the following ATCs are hereby modified: EXISTING (per ATC Handbook) MODIFIED/NEW BIR FORM ATC Description Tax Description Legal Rate Basis NO. Lending lnvestors/Dealer in VB1O2 Dealers on Securities/Lending 12o/o Secu rities/Pawnshops/ lnvestors Pre-Need Co. 12o/o Transport Storage and VB105 Operators of Common Carriers 12o/o Communications RR No. 2550M/ VB108 with Respect to Transport Cargo 8-2002 2s50Q - Land Transpoft-Cargo - Land Based (Road Freight) - Air Transport-Cargo - Aircraft VHOl O On Community, Personal 12o/o Other Community Social and & Household Services Personal Service Activity II. REPEALING CISUSE: This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. III. EFFECTIVIW: This RMO shalltake effect immediately. ffi4 CAESAR R. DUTAY Commissioner of lnternal Revenue 030 130 B-3 ,: {1