Tax Alert No. 29 [Revenue Memorandum Circular (RMC) No. 80-2022 dated 06 June 2022]

Circularizing the Lists of Withholding Agents Required to Deduct and Remit the 1% or 2% Creditable Withholding Tax (CWT) for the Purchase of Goods and Services under Revenue Regulations (RR) No. 31-2020

In connection with the previously published lists of Top Withholding Agents (TWAs) last 16 March 2022, please be informed that the Commissioner of Internal Revenue has issued RMC No. 80-2022 to circularize the additional list of withholding agents who are required to deduct and remit either 1% or 2% CWT from their income payments to their suppliers of goods and services, respectively, pursuant to RR No. 31-2020. This RMC also disseminates the list of TWAs who will be removed from the existing list. 

The obligation to deduct and remit 1% or 2% CWT of the identified taxpayers shall continue, commence, or cease, as the case may be, effective 1 July 2022. 

You may access the full version of the RMC together with the aforementioned lists through the BIR website.