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  • Special InTAX: May 2019 Issue 1 | Vol. 1

Special InTAX: May 2019 Issue 1 | Vol. 1

Special InTAX: May 2019 Issue 1 | Vol. 1

InTAX is an official publication of Tax Group of R.G. Manabat & Co.

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Bureau of Internal Revenue

 

The Bureau of Internal Revenue (BIR) issued the following:

Revenue Memorandum Circular No. 51-2019, 16 April 2019, to inform taxpayers and others concerned that Union Bank of the Philippines, an Authorized Agent Bank (AAB) of the BIR, can now accept electronic/online tax payment through the UnionBank Online Web and Mobile applications.

Taxpayers who have an account with the said bank can now pay their taxes through the said electronic/online tax payment facilities, and can directly inquire from the said AAB or visit their website on how to avail of these tax payment facilities.

Revenue Memorandum Order No. 20-2019, 01 April 2019, to modify the following Alphanumeric Tax Codes (ATC) and facilitate the proper identification and monitoring of tax collection from Business Income and Income from Profession in BIR Forms 1701/1701A/1701Q:

EXISTING (per ATC Handbook)

MODIFIED/NEW

ATC

Description

Tax Rate

BIR Form No.

Legal Basis

BIR Form No.

II012

Business Income- Graduated Income Tax Rates

 

Graduated Income Tax Rates

1701/

1701Q

RA No. 10963

1701/

1701A/

1701Q

II014

Income from Profession- Graduated Income Tax Rates

 

II015

Business Income- 8% Income Tax Rate

 

8% Income Tax Rate

II017

Income from Profession- 8% Income Tax Rate

 

Attached are the full texts of the issuances.

Revenue Memorandum Circular No. 51-2019

Revenue Memorandum Order No. 20-2019

DISCLAIMER: The information contained herein is of a general nature and is not intended to address the circumstances of any particular individual or entity. Although R.G. Manabat & Co. endeavors to provide accurate and timely information, there can be no guarantee that such information is accurate as of the date it is received or that it will continue to be accurate in the future. No one should act on such information without appropriate professional advice after a thorough examination of the particular situation.

For any queries, you may contact any member of the InTAX Editorial Board or send your questions to ph-inquiry@kpmg.com.

© 2022 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

 

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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© 2022 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG global organization of independent member firms affiliated with KPMG International Limited, a private English company limited by guarantee. All rights reserved.

 

For more detail about the structure of the KPMG global organization please visit https://home.kpmg/governance.

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