RMO No. 36-2019 — Modifies the Alphanumeric Tax Code for Percentage Taxes under Republic Act No. 10001 entitled "An Act Reducing Taxes on Life Insurance Policies, Amending for this Purpose sections 123 and 183 of the NIRC 1997, as Amended"

TER REPUBLIC OFTHE PHILIPPINES

DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE Quezon City

June 14,2019

REVENUE MEMORANDUM ORDER NO. 3( - 2D10

SUBJECT Modification of Alphanumeric Tax Code (ATC for Percentage Taxes under Republic Act (RA) No.10001,An Act Reducing Taxes on Life Insurance Policies Amending for this Purpose Sections 123 and 183 of the National Internal

Revenue Code of 1997, as Amended

TO * All Collection Agents, Revenue District Officers and Other Internal Revenue

Officers Concerned

I OBJECTIVE:

To facilitate the proper identification and monitoring of tax collection from selected Percentages Taxes in BIR Form Nos. 2551M (Monthly Percentage Tax Return) and 2551Q (Quarterly Percentage Tax Return) pursuant to RA No. 10001, the following ATCs are hereby modified:

EXISTING (per ATC Handbook) MODIFIED/ NEW

ATC Description Tax Rate Form No. BIR Legal Basis Tax Rate

PT120 Life insurance premium 5% 2551M 2551Q RA No.10001 2%

Agents of Foreign Insurance Companies PT130 a. Insurance agents 10% 4%

I REPEALING CLAUSE:

This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith.

I. EFFECTIVITY:

This RMO shall take effect immediately

BUREAUOF INIEKNAL

B-3 AMM MTYN JUL 18 2019 3:300.M O Commissioner of Internal Revenue CAESAR R.DULAY 027011

RECORDS MGT.DIVISION