31 July 2014
The Commissioner of Internal Revenue (“CIR”) has issued Revenue Memorandum Circular (“RMC”) No. 60-2014 dated 24 July 2014 to clarify that the requirement of presenting a tax exemption certificate or ruling in RMC No. 8-2014 does not apply to GPPs.
GPPs are not subject to income tax, and consequently, to withholding tax.