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BUREAU OF INTERNAL REVENUE
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order NO. 31-2018, 13 June 2018, to prescribe the creation of an Alphanumeric Tax Code (ATC) for inclusion in the revised BIR Form No. 2200-P (Excise Tax Return for Petroleum Products) to facilitate the proper identification and monitoring of tax collection from Excise Tax on petroleum products. The new ATC is as follows:
|ATC||Description||Tax Rate||Legal Basis||BIR Form|
|XP220||Additives for lubricating oils and greases||RA No. 10963||2200-P|
|Effective on 01 January 2018||8%|
Effective on 01 Jaunary 2019
|Effective on 01 January 2020||10%|
Additives for lubricating oils and greases
Attached is the full text of the issuance.
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