RMO No. 15-2002 — Creates the Alphanumeric Tax Code for Final Withholding Tax on interest payments to taxpayers enjoying preferential tax rates Digest | Full Text

REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City May 24, 2002 REVENUE MEMORANDUM ORDER NO. 15-2002 SUBJECT: Creation of Alphanumeric Tax Code (ATC) of Revenue Sources For Proper Classification of Taxes TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. Objective: For proper identification and monitoring of Final Withholding Taxes on interest payments to taxpayers enjoying preferential tax rates (i.e. PEZA Registered Enterprises) based on BIR Form No. 1602 (Monthly Remittance Return of Final Income Taxes Withheld on Interest Paid on Deposits an Yield on Deposit Substitutes/Trust Funds, Etc.) and for Integrated Tax Systems (ITS) purposes, the following ATC is hereby created: KIND OF TAXES ISSUANCE/ LEGAL BASIS/ ATC REASONS WC 390 A. Creation of ATC for Tax on Income and Profit Section 24 of RA 7916 as amended by RA 8748, 1. Final Withholding Tax on otherwise known as the Interest Payments to Taxpayers Enjoying Preferential Tax "Special Economic Zone of Rates (i.e. PEZA Registered 1995" as implemented by RR Enterprises) -- 5% tax rate No. 12-97 and as further amended by RR No. 1-2000 II. Repealing Clause: This order revises portions of all other issuances inconsistent herewith. III. Effectivity: This Revenue Memorandum Order shall take effect immediately. (Original Signed) EDMUNDO P. GUEVARA Officer � in � Charge Bureau of Internal Revenue