Special InTAX: January 2024 Issue 1 | Volume 9

Bureau of Internal Revenue

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

Revenue Memorandum Circular (RMC) No. 15-2024 dated 25 January 2024 to prescribe the temporary use of BIR Form No. 0605 for the remittance of Creditable Withholding Tax (CWT) by joint ventures/consortiums pending the finalization of the revised BIR Form No. 1601-EQ which shall include the additional Alphanumeric Tax Codes (ATCs) for the new CWT rates. Hence, all concerned joint ventures/consortiums with respect to their income payments made, and distributive shares of their co-venture/member from the net income of the joint venture/consortium, not taxable as corporation shall comply the with the procedures prescribed under Revenue Regulation No. (RR) No. 14-2023 in remitting the CWT.

The availability of the revised BIR Form No. 1601-EQ containing the new ATCs shall be announced through the issuance of another RMC.

RMC No. 16-2024, dated 26 January 2024, providing for the extension until 28 February 2024 to submit the Alphabetical List of Employees/Payees from Whom Taxes Were Withheld (alphalist) for the taxable year 2023 under BIR Form No. 1604C (using the new version of the Alphalist Data Entry and Validation Module).

RMC No. 16-2024 further provides that taxpayer-employers who have employees availing 5% tax credit under the Personal Equity and Retirement Account (PERA) Act of 2008 shall submit their alphalists for the year 2022 within 30 days immediately after the date of posting of a tax advisory on the BIR website announcing the availability of a separate revised data entry module.

Here are the full texts of the issuances: RMC No. 15-2024 and RMC No. 16-2024.