RMO No. 14-2024 — Creates Alphanumeric Tax Code (ATC) for Creditable Withholding Tax on Certain Income Payments by Joint Ventures/Consortiums.

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE BUREAU OF INTERNAL REVENUE tnTYiii (0:5o APR 12 2024

National Office Building Quezon City RECORDS MGT.DIVISION

December 20, 2023

REVENUE MEMORANDUM ORDER NO. 14- 2074

SUBJECT: Creation of Alphanumeric Tax Code (ATC) for Creditable Withholding Tax on

Certain Income Payments by Joint Ventures/Consortiums

TO : All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concemed

OBJECTIVE:

on certain income payments by joint ventures/consortiums pursuant to the issuance of Revenue Regulations (RR) No. 14-2023, the following ATCs are hereby created: To facititate the proper identification and monitoring of payment for creditable withholding tax

ATC Description Tax Rate Legal Basis BIR Form No.

WC730 W750 Iocal/resident supplier of goods. Income payments made by joint taxable or non-taxable, to their ventures, whether incorporated or not, Corporate Individual 1%

WI760 WC740 Tocal/resldent supplier of services. Income payments made by joint ventures, whether incorporated or not, taxable or non-taxable, to their Individual Corporate 2% RR No. 14-2023 1601-EQ/ 2307

WC750 On the share of each co-venturer? joint venture/consortium not taxable as corporation prior to actual or constructive distribution thereof. Corporate member from the net income of the 15%

I REPEALING CLAUSE:

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

EFFECTIVITY:

This RMO shall take effect immediately.

ROM 1.: OI,JR

B-3 Commissioner of Internal Revenue