Tax Notes: Classification of top withholding agents on purchase of goods and services

ON Jan. 31, the Bureau of Internal Revenue (BIR) issued Revenue Regulations (RR) No. 11-2018 to implement the amendments introduced by the Tax Reform for Acceleration and Inclusion Act (Train) Law (Republic Act No. 10963) relative to the withholding of income tax.

RR No. 11-2018 discussed the amendments to income payments subject to creditable withholding tax, as well as the applicable rates. The RR also provides the new classification of top withholding agents. Per Section 2.57.2 of RR, the top withholding agents now include the following:

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