Revenue Regulations · RR
RR 15-2022 2
To further amend Section 2 of RR No. 11-2018 (which amended Section 2.57.2 of RR No. 2-98) so as to prescribe the creditable withholding tax rates on MERALCO refund payments and on interest income on refunds of meter deposits paid by MERALCO and other electric distribution utilities to their customers.
- Document type
- RR
- Number
- 15
- Year
- 2022
- Text quality
- Not specified
Document text
Reference copy · verify against the official sourceRevenue Regulations (RR) No. 15-2022, issued December 9, 2022, further amends Section 2.57.2 of RR No. 2-98, as amended by RR No. 11-2018, which implemented TRAIN Law changes in creditable withholding tax (CWT) rates under Section 57 of the Tax Code. It prescribes CWT on MERALCO payments: fifteen percent (15%) on the gross amount of MERALCO refunds given to non-residential customers under specified ERC cases, and CWT on gross interest income on refunds of meter deposits paid directly to customers or applied against customer billings — ten percent (10%) for residential and general service customers whose monthly electricity (consumption) exceeds 200 kwh and fifteen percent (15%) for non-residential customers. The same interest-refund rates apply to interest on meter deposit refunds paid by other electric distribution utilities (DUs).