Let's Get on the TRAIN

 

The Bureau of Internal Revenue (BIR) issued a tax advisory, 6 February 2018, clarifying the remittances of creditable and final withholding taxes for the first two (2) months of every quarter using BIR Form No. 0605.

It is advised that the Alphanumeric Tax Code of 鈥淢C 200鈥� be used and the tax type be indicated shall be 鈥淲E鈥� for Expanded Withholding Tax or 鈥淲F鈥� for Final Withholding Tax, whichever is applicable.

Please note that this is only a transitory procedure pending the issuance of the enhanced withholding tax remittance forms. Further, with regard to the submission of the alphabetical list of payees from whom the taxes were withheld, it shall be submitted no later than the last day of the month following the close of the taxable quarter during which the withholding tax was made.

 

Attached is the copy of the tax advisory for your reference.

BIR Advisory 2018-02-06 013066 Withholding Taxes 

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