Additional Tax Type Code for Sweetened Beverages in Accordance with the Implementation of Republic Act No. 10963

January 9, 2018BANK BULLETIN NO. 01-18SUBJECT:Additional Tax Type Code for Sweetened Beverages in Accordance with the Implementation of Republic Act No. 10963   TO:All Authorized Agent Banks In accordance with the implementation of Republic Act (RA) No. 10963, also known as the Tax Reform for Acceleration and Inclusion (TRAIN), particularly Section 47 thereof, providing the Excise Tax on Sweetened Beverages, all Authorized Agent Banks (AABs) are hereby advised to include the new Tax Type Code XB (for Sweetened Beverages) by updating the BIR forms in the forms codes table under the Limited Bank Data Entry System (LBDES) following the procedures below: 1.       From the main menu on screen, go to "Utilities" menu or press hotkey 'U' on the keyboard.2.       From the menu, select "Update codes table" submenu by using arrow keys to highlight the submenu then press enter or simply press hotkey 'U' on the keyboard.3.       Another submenu option will appear; this time you select "Form" by pressing enter key since the submenu is already highlighted or simply press hotkey 'F' on the keyboard.4.       Table will...