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

April 10, 2019REVENUE MEMORANDUM ORDER NO. 022-19SUBJECT: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/NEWATCDescriptionTaxRateBIRFormNo.LegalBasisBIR FormNo.PT010Persons exempt from value-added tax (VAT) under Sec. 109 (BB) (Sec. 116)3%2551MRA No. 109632551M/2551QPT040Domestic carriers and keepers of garages (Sec. 117)3%   PT041International carriers (Sec. 118)3%   PT060Franchises on gas and water utilities (Sec. 119)2%   PT070Franchises 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 from...