April 10, 2019
REVENUE MEMORANDUM ORDER NO. 022-19
| SUBJECT | : | Modification of Alphanumeric Tax Code (ATC) for Percentage Taxes in BIR Form Nos. 2551M/2551Q Pursuant to the Implementation of Republic Act (RA) No. 10963, also known as Tax Reform for Acceleration and Inclusion (TRAIN) Law |
| TO | : | All Collection Agents, Revenue District Officers and Other Internal Revenue Officers Concerned |
I. OBJECTIVE:
To facilitate the proper identification and monitoring of tax collection from Percentage Taxes BIR Form Nos. 2551M — Monthly Percentage Tax Return; and 2551Q — Quarterly Percentage Tax Return, in connection with the implementation of RA No. 10963, the following ATCs are hereby modified: DHITCc
EXISTING (per ATC Handbook) | MODIFIED/ |
ATC | Description | Tax | BIR | Legal | BIR Form |
PT010 | Persons exempt from value-added tax (VAT) under Sec. 109 (BB) (Sec. 116) | 3% | 2551M | RA No. 10963 | 2551M/ 2551Q |
PT040 | Domestic carriers and keepers of garages (Sec. 117) | 3% | |||
PT041 | International carriers (Sec. 118) | 3% | |||
PT060 | Franchises on gas and water utilities (Sec. 119) | 2% | |||
PT070 | Franchises on radio/television broadcasting companies whose annual gross receipts do not exceed P10M (Sec. 119) | 3% | |||
Tax on banks and non-bank financial intermediaries performing quasi-banking functions: | |||||
1. On interest, commissions and discounts from lending activities as well as income...
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