RMO No. 16-2019 — Modifies the Alphanumeric Tax Code for Withholding Taxes in BIR Form No. 1601-EQ pursuant to RR No. 1-2019 Digest | Full Text

@ REPUBLIC OF THE PHILIPPINES BLIREAU OF INTERN AL REV ENUE DEPARTMENT OF FINANCE t-iNF#F+f-Y-r BUREAU OF INTERNAL REVENUE ,ffit ll LD JliI(LUJZATPyRiE-1ZlSIf-aTAqiG-nTtI Quezon CitY RECORDS MGT. DIVISI ON March 19,2019 REVENUE MEMORANDUM ORDER NO. IttO^ - C1/- If.\/l/t,I SUBJECT : Modification of Alphanumeric Tax Code (ATC) for Withholding Taxes in BIR IU Form No. 1601-EQ Pursuant to Revenue Regulations (RR) No. 1-2019 : AII Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned I. OBJECTIVE: To facilitate the proper identification and monitoring of tax collection from withholding taxes in BIR Form No. 1601-EQ (Quarterly Remittance Return of Creditable Income Taxes Withheld [Expanded]), pursuant to RR No. 1-20'19, the following ATCs are hereby modified: EXISTING (per ATC Handbook) MODIFIED/ NEW ATC Description Tax BIR Legal Basis Tax Ratei Rate Form No. On gross amount of refund given by 1 601 -EQ RR No. 1-2019 MERALCO to customers with active WI65O contracts as classified by MERALCO 25% 1I )lo//O WC65O 1 Individual 2. Corporate On gross amount of refund given by MERALCO to customers with terminated contracts as classified by MERALCO w1651 '1. Individual a)o/- 1l)t/oo/ WC651 2. Corporate On gross amount of interest on the refund of meter deposit whether paid directly to the customers or applied agarnst customer's billings of Non- Residential customers whose monthly electricity consumption exceeds 200 kwh as ciassified by MERALCO wr561 1. Individual 10% 15% WC661 2. Corporate

EXISTING (per ATC Handbook) MODIFIED/ NEW ATC Description Tax BIR Legal Basis Rate Form Tax Rate No. 20Yo WI663 On gross amount of interest on the L1AVO/O/ 15o/o WC663 refund of meter deposit whether paid 15"/o directly to the customers or applied against customer's billings of Non- Residential customers whose monthly electricity consumption exceeds 200 kwh as classified by other electric Distribution Utilities (DU) '1. Individual 2. Corporate Interest income derived from any other debt instruments not within the coverage of deposit substitutes and Revenue Regulations No. 14-20'12 wr7'10 1. Individual WCTiO 2. Corporate il. REPEALING CLAUSE: This Revenue Memorandum Order (RMO) revises portions of all other issuances inconsistent herewith. ffi. EFFECTIVITY: /Eo+olts-1 This RMO shall take effect immediately. CAESAR, R. DULAY Commissioner of Internal Revenue ATK 1I 025084 B-3 ffioXos@1vtsto1