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  • Special InTAX: Let's Get on the TRAIN (Tax Alert 19)

Special InTAX: Let's Get on the TRAIN (Tax Alert 19)

Special InTAX: Let's Get on the TRAIN (Tax Alert 19)

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

intax train

Let's Get on the TRAIN

 

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

 

9%
Effective on 01 January 2020 10%

Additives for lubricating oils and greases

Attached is the full text of the issuance.

Revenue Memorandum Order No. 31-2018

 

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.

© 2025 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://kpmg.com/governance.

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© 2025 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://kpmg.com/governance.

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