Revenue Regulations (RRs)

RR NO. 14-2018, issued on April 5, 2018, amends certain provisions of RR No. 11-2018, particularly Secs. 2 and 14. Income payments shall be subject to creditable withholding tax at the rates specified for each class of payee. Income recipient/payee subject to withholding tax and availing to be exempt from the prescribed withholding tax rates shall submit on or before April 20, 2018 a duly accomplished “Income Payee’s Sworn Declaration of Gross Receipt/Sales,” together with a copy of the Certificate of Registration (COR) to his/her income payor/withholding agent.

RR NO. 15-2018, issued on April 5, 2018, amends RR No. 8-2018 particularly on the due date for the updating of registration from VAT to Non-VAT. All existing VAT registered taxpayers whose gross sales/receipts and other non-operating income in the preceding year not exceeding the VAT threshold of P3,000,000 shall have the option to update their registration to non-VAT until April 30, 2018, following the existing procedures on registration updates, and the inventory and surrender/cancellation of unused VAT invoices/receipts.

Revenue Memorandum Orders (RMOs)

RMO NO. 16-2018, issued on April 5, 2018, modifies the Alphanumeric Tax Code (ATC) for sweetened beverages, pursuant to RA No. 10963 (TRAIN Law). [Digest]

Revenue Memorandum Circulars (RMCs)

RMC NO. 21-2018, issued on April 5, 2018, circularizes Memorandum No. 016-2018 regarding the imposition of surcharge, interest and compromise penalty for filing of an amended tax return. In an amendment of return where an additional tax is due per amended return, 20% interest and 25% penalty shall be imposed based on the additional tax to be paid per amended return. Compromise penalties, on the other hand, are only amounts suggested by the BIR in settlement of criminal liability for violations committed by taxpayers, the payment of which is consensual in nature, and may not therefore be imposed or exacted on the taxpayer.​ [Annex]