RMO No. 40-2024 — Modification of Alphanumeric Tax Code of selected revenue source under Republic Act No. 11534, otherwise known as Corporate Recovery and Tax Incentives for Enterprise Act

BUREAU OF INTERNAL REVENUE REPUBLIC OF THE PHILIPPINES DEPARTMENT OF FINANCE

Bringing In Revenues for Nation-Building September 17, 2024 PILIPINAS BAGONG

REVENUE MEMORANDUMORDER NO.0 4 0 - 2 0 2 4

SUBJECT Modification of Alphanumeric Tax Code (ATC) of Selected Revenue Source under Republic Act (RA) No. 11534, otherwise known as Corporate Recovery and Tax Incentives for Enterprise (CREATE) Act

TO All Collection Agents, Revenue District Officers and Other Intemal Revenue Officers Concermed

I OBJECTIVE:

Tax in BIR Form No. 1601-FQ (Quarterly Remittance Return of Final Income Taxes Withheld) pursuant to RA No. 11534, the following ATCs are hereby modified: To facilitate the proper identification and monitoring of tax collection from Corporate Income

ATC EXISTING (per ATC Handbook) Description Tax Rate FORM NO. BIR LEGAL BASIS MODIFIED/ Tax Rate NEW

WC230On other payments to NRFCs WC212 WC213 Cash dividend payment by domestic Property dividend payment by. corporation to NRFCs domestic corporation to NRFCs 30% 30% 30% 1601-FQ/ 2306 R.A. No RR No. 2-2021 11534/ 25% 25 % 25%

REPEALING CLAUSE:

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

I EFFECTIVITY:

This RMO shall take effect immediately

B-3 Hechyxwnw 3c tREAULOF INTERN4 8EYENU ORDS MANAGEMENT OIVISION F PR Fs Commissioner of Internal Revenue ROMEO D. LUMAGUI, JR. By:

a Lmh SEP 3 0 2024 Admin Unit JsM Officer-in-Charge. Date of signinig:oijwiy Operations Groupy^ MAridUrv rosArie Dieputy Commissioner (Per DPO No.1273-2024)

BIR National Office Bldg., Senator Miriam Defensor-Santiago Avenue, Diliman Quezon Gity--y Trunktine: 8981-7000 : 8929-7676 Website: www.bir.gov.ph 00.00