InTAX: March 2020 Issue 2 | Volume 1

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

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

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Department of Finance


The Department of Finance (DoF) issued the following:

Revenue Regulations (RR) No. 1-2020, 09 January 2020, further amending pertinent provisions of Section 8 under RR No. 11-2018, which amended certain provisions of RR No. 2-98, as amended, to implement changes introduced by Republic Act (RA) No. 10963, otherwise known as the “Tax Reform for Acceleration and Inclusion (TRAIN) Law, relative to withholding of income tax.  Based on the amendments, all employers shall require an employee to accomplish in triplicate the Application for Registration (BIR Form No. 1902) if the employee does not have an existing Taxpayer Identification Number. The original form shall be submitted to the Revenue District Office (RDO), the duplicate to the employer and the triplicate shall be retained by the employee.

Further, in case of changes in the information data in the Application for Registration (BIR Form No. 1902) previously submitted by the employee to its current employer, such as changes in employment, multiple employment status and amount of compensation income, the employee should furnish his employer a copy of BIR Form No. 1905 duly stamped received by the RDO where the employee is registered.

RR No. 02-2020, 15 January 2020 to implement the tax exemption provisions of RA No. 11211, otherwise known as “An Act Amending Republic Act Number 7653, otherwise known as “The New Central Bank Act”, and for Other Purposes”.

The regulation reiterates that the Bangko Sentral ng Pilipinas (BSP) shall be exempt from all national internal revenue taxes on income derived from its governmental functions, specifically:

a) Income from its activities or transactions in the exercise of its supervision over the operations of banks and its regulatory and examination powers over non-bank financial institutions performing quasi-banking functions, money service businesses, credit granting business and payment system operators; and

b) Income in pursuit of its primary objective to maintain price stability conducive to a balanced and sustainable growth of the economy, and the promotion and maintenance of monetary and financial stability and convertibility of the peso.

All other income not included in the above enumeration shall be considered as proprietary income and shall be subject to all applicable national internal revenue taxes.


Bureau of Internal Revenue


The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 03-2020, 02 January 2020, circularizing the availability of the newly revised BIR Form No. 1702Q (Quarterly Income Tax Return for Corporations, Partnerships and Other Non-Individual Taxpayers) which was revised due to the implementation of the TRAIN Law. The said revised manual return is already available in the BIR website under the BIR Forms-Income Tax Return Section.

However, the form is not yet available in the Electronic Filing and Payment System (eFPS) and Electronic Bureau of Internal Revenue Form (eBIRForms).  Thus, taxpayers filing eFPS/eBIRForms shall continue to use the existing BIR Form No. 1702Q in eFPS and in Offline eBIRForms Package v7.5. A revenue issuance will be released once the revised returns are available in eFPS and eBIRForms.

Manual filers shall download the PDF version of the form, print the form and completely fill out the applicable fields. Payment of the tax due thereon, if any, shall be made thru:


Type of Payment


Manual Payment

  • Authorized Agent Bank (AAB) located within the territorial jurisdiction of the RDO where the taxpayer is registered; or
  • In places where there are no AABs, the return shall be filed and the tax due shall be paid with the concerned Revenue Collection Officer (RCO) under the jurisdiction of the RDO using MRCOS facility.

Online Payment

  • Through GCash mobile payment;
  • Land Bank of the Philippines (LBP) LinkBiz Portal, for taxpayers who have ATM account with LBP and/or holders of Bancnet ATM/Debit Card; or
  • DBP Tax Online, for holders of VISA/Master Credit Card and/or Bancnet ATM/Debit Card.


Attached are the full texts of the issuances.

RR 01-2020

RR No. 02-2020

RMC No. 3-2020 with Annex


The materials contained in InTAX were compiled by R.G. Manabat & Co. from various sources. The subjects are discussed in brief/general terms and are intended to provide an overview of the recent and relevant developments relating to Philippine tax laws and various government regulations. This information is for guidance only and should not be regarded as a substitute for appropriate professional advice.

R.G. Manabat & Co. accepts no liability with regard to the information the firm has provided or any action that may be taken by readers of InTAX. The information contained herein is updated until the date of publication.

For any queries, you may contact any member of the InTAX Editorial Board or send your questions to


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