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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.
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.
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.
© 2020 R.G. Manabat & Co., a Philippine partnership and a member firm of the KPMG network of independent member firms affiliated with KPMG International Cooperative, a Swiss entity. All rights reserved.
KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.
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