Revenue Memorandum Order · RMO

RMO No. 24-2022

The RMO was issued to facilitate the proper identification and monitoring of remittances for Final Income Taxes Withheld pursuant to the implementation of RA No. 9505, and due to the latest development on the proper classification of the nature of penalty on early withdrawal under ePERA, resulting in the dropping of an ATC.

Bureau of Internal RevenueIndependent research copy

Document type: RMO
Number: 24
Year: 2022
Text quality: Not specified

Document text

Reference copy · verify against the official source

RMO No. 24-2022 (March 04, 2022) drops the Alphanumeric Tax Code (ATC) for revenue source under RA No. 9505 (PERA Act of 2008). The dropped ATC appears in the OCR text as 'wt730' (possibly WC730) and covers total income earned from the time of a PERA's opening to its withdrawal, with a tax rate shown as 20% ('204/o'), legal basis RA No. 9505 / RR No. 6-2021, and BIR Form No. 1601-FQ. The dropping is intended to facilitate proper identification and monitoring of remittances for Final Income Taxes Withheld under RA No. 9505, in light of developments on the classification of the penalty on early withdrawal under ePERA. The RMO revises inconsistent issuances and takes effect immediately.