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Revenue Memorandum Circular · RMC

RMC No. 27-2022

To circularize the recently published lists of withholding agents for inclusion in the existing List of Top Withholding Agents (TWAs) who are required to deduct and remit the 1% or 2% Creditable Withholding Tax from income payments to their suppliers of goods and services.

Bureau of Internal RevenueIndependent research copy
Document type
RMC
Number
27
Year
2022
Text quality
Not specified

Document text

Reference copy · verify against the official source
RMC No. 27-2022 (issued March 16, 2022) circularizes recently published lists of withholding agents to be added to the existing List of Top Withholding Agents (TWAs). These additional TWAs must deduct and remit either 1% or 2% Creditable Withholding Tax (CWT) from income payments to their suppliers of goods and services, respectively, starting April 1, 2022. The lists are posted on the BIR website (www.bir.gov.ph). Taxpayers not included in the published lists are not required to deduct and remit the 1% or 2% CWT pursuant to Revenue Regulations No. 31-2020, and the BIR will serve individual written notices, signed by the Revenue District Officer, to the BIR-registered addresses of the additional TWAs.