Further Amending Certain Provisions of Revenue Regulations (RR) 2-98 as Amended by RR No. 11-2018, Which Implemented the Provisions of Republic Act 10963, Otherwise Known as Tax Reform for Acceleration and Inclusion (TRAIN) Law, Relative to Some Changes in the Rate of Creditable Withholding Tax on Certain Income Payments

December 27, 2018REVENUE REGULATIONS NO. 01-19SUBJECT:Further Amending Certain Provisions of Revenue Regulations (RR) 2-98 as Amended by RR No. 11-2018, Which Implemented the Provisions of Republic Act 10963, Otherwise Known as Tax Reform for Acceleration and Inclusion (TRAIN) Law, Relative to Some Changes in the Rate of Creditable Withholding Tax on Certain Income Payments   TO:All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Section 244 of the National Internal Revenue Code and the provisions of Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN) Law, these regulations are hereby promulgated to implement the changes of creditable withholding tax rate under Section 57 of the Tax Code which provided that "beginning January 1, 2019, the rate of withholding shall not be less than one percent (1%) but not more than fifteen percent (15%) of the income payment." HTcADCSECTION 1. Amendment. — Section 2 of RR 11-2018 on the amendments to Section 2.57.2 of RR 2-98, as amended, is hereby further amended to read as follows:"SECTION 2.57.2. Income...