WITHHOLDING TAXES What is compensation It means any

WITHHOLDING TAXES

What is compensation? It means any remuneration received for services performed by an employee from his employer under an employeeemployer relationship.

What are the different kinds of compensation? a) b) Regular compensation - includes basic salary, fixed allowances for representation, transportation and others paid to an employee Supplemental compensation - includes payments to an employee in addition to the regular compensation such as but not limited to the following: - Overtime Pay - Fees, including director's fees - Commission - Profit Sharing - Monetized Vacation and Sick Leave - Fringe benefits received by rank & file employees - Hazard Pay - Taxable 13 th month pay and other benefits - Other remunerations received from an employee-employer relationship

Who is a withholding agent? A withholding agent is any person or entity who is required to deduct and remit the taxes withheld to the government.

What are the duties and obligations of the withholding agent? The following are the duties and obligations of the withholding agent: a) To Register - withholding agent is required to register within ten (10) days after acquiring such status with the Revenue District office having jurisdiction over the place where the business is located b) To Deduct and Withhold - withholding agent is required to deduct tax from all money payments subject to withholding tax c) To Remit the Tax Withheld - withholding agent is required to remit tax withheld at the time prescribed by law and regulations d) To File Annual Return - withholding agent is required to file the corresponding Annual Information Return at the time prescribed by law and regulations e) To Issue Withholding Tax Certificates - withholding agent shall furnish Withholding Tax Certificates to recipient of income payments subject to withholding

What are exempted from Withholding Tax on Compensation? 1. Remuneration as an incident of employment, such as follows: a. Retirement benefits received under RA 7641 b. Any amount received by an official or employee or by his heirs from the employer due to death, sickness or other physical disability or for any cause beyond the control of the said official or employee such as retrenchment, redundancy or cessation of business c. Social security benefits, retirement gratuities, pensions and other similar benefits d. Payment of benefits due or to become due to any person residing in the Philippines under the law of the US administered US Veterans Administration e. Payment of benefits made under the SSS Act of 1954, as amended f. Benefits received from the GSIS Act of 1937, as amended, and the retirement gratuity received by the government employee 2. Remuneration paid for agricultural labor 3. Remuneration for domestic services 4. Remuneration for casual labor not in the course of an employer's trade or business

6. Payment for damages 7. Proceeds of Life Insurance 8. Amount received by the insured as a return of premium 9. Compensation for injuries or sickness 10. Income exempt under Treaty 11. Thirteenth (13 th) month pay and other benefits (not to exceed P 30, 000) 12. GSIS, SSS, Medicare and other contributions 13. Compensation Income of Minimum Wage Earners (MWEs) with respect to their Statutory Minimum Wage (SMW) 14. Compensation Income of employees in the public sector if the same is equivalent to or not more than the SMW in the non-agricultural sector, as fixed by RTWPB/NWPC, including overtime pay, holiday pay, night shift differential and hazard pay, applicable to the place where he/she is assigned.

What income payments are subject to Expanded Withholding Tax? a) Professional fees / talent fees for services rendered by the following: - Those individually engaged in the practice of profession or callings such as lawyers, certified public accountants, doctors of medicine, architecs, engineers and all other professionals who have undergone licensure examinations regulated by the Professional Regulations Commission, Supreme Court, etc. - Professional entertainers such as but not limited to actors and actresses, singers, lyricist, composers and emcees - Professional athletes including basketball players, pelotaris and jockeys - Directors and producers involved in movies, stage, radio, television and musical productions - Insurance agents and insurance adjusters - Management and technical consultants - Bookkeeping agents and agencies - Other recipient of talent fees - Fees of directors who are not employees of the company paying such fees whose duties are confined to attendance at and participation in the meetings of the Board of Directors b) Professional fees, talent fees, etc for services of taxable juridical persons c) Rentals: -Rental of real property used in business -Rental of personal properties in excess of P 10, 000 annually -Rental of poles, satellites and transmission facilities -Rental of billboards d) Cinematographic film rentals and other payments e) Income payments to certain contractors - General engineering contractors - General building contractors - Specialty contractors

- Other contractors like: 1. Filling, demolition and salvage work contractors and operators of mine drilling apparatus 2. Operators of dockyards 3. Persons engaged in the installation of water system, and gas or electric light, heat or power 4. Operators of stevedoring, warehousing or forwarding establishments 5. Transportation Contractors 6. Printers, bookbinders, lithographers and publishers, except those principally engaged in the publication or printing of any newspaper, magazine, review or bulletin which appears at regular intervals, with fixed prices for subscription and sale 7. Advertising agencies, exclusive of payments to media 8. Messengerial, janitorial, security, private detective, credit and/or collection agencies and other business agencies 9. Independent producers of television, radio and stage performances or shows 10. Independent producers of "jingles" 11. Labor recruiting agencies and/or “labor-only” contractors 12. Persons engaged in the installation of elevators, central air conditioning units, computer machines and other equipment and machineries and the maintenance services thereon 13. Persons engaged in the sale of computer services, computer programmers, software developer/designer, etc. 14. Persons engaged in landscaping services 15. Persons engaged in the collection and disposal of garbage 16. TV and radio station operators on sale of TV and radio airtime, and 17. TV and radio blocktimers on sale of TV and radio commercial spots f) Income distribution to the beneficiaries of estates and trusts g) Gross commission or service fees of customs, insurance, stock, real estate, immigration and commercial brokers and fees of agents of professional entertainers

h) Income payments to partners of general professional partnerships i) Payments made to medical practitioners j) Gross selling price or total amount of consideration or its equivalent paid to the seller/owner for the sale, exchange or transfer of real property classified as ordinary asset k) Additional income payments to government personnel from importers, shipping and airline companies or their agents l) Certain income payments made by credit card companies m) Income payments made by the top 20, 000 private corporations to their purchase of goods and services from their local/resident suppliers other than those covered by other rates of withholding n) Income payments by government offices on their purchase of goods and services, from local/resident suppliers other than those covered by other rates of withholding o) Commission, rebates, discounts and other similar considerations paid/granted to independent and exclusive distributors, medical/technical and sales representatives and marketing agents and sub-agents of multi level marketing companies. p) Tolling fees paid to refineries

q) Payments made by pre-need companies to funeral parlors r) Payments made to embalmers by funeral parlors s) Income payments made to suppliers of agricultural products (suspension not yet lifted) t) Income payments on purchases of mineral, mineral products and quarry resources u) On gross amount of refund given by MERALCO to customers with active contracts as classified by MERALCO; v) Interest income on the refund paid through direct payment or application against customers' billing by other electric Distribution Utilities w) Income payments made by the top 5, 000 individual taxpayers to their purchase of goods and services from their local/resident suppliers other than those covered by other rates of withholding x) Income payments made by political parties and candidates of local and national elections of all their campaign expenditures, and income payments made by individuals or juridical persons for their purchases of goods and services intended to be given as campaign contribution to political parties and candidates

What income payments are subject to Final Withholding Tax? a) Income Payments to a Citizen or to a Resident Alien Individual: - Interest on any peso bank deposit - Royalties - Prizes [except prizes amounting to P 10, 000 or less which is subject to tax under Sec. 24(A)(1) of the Tax Code] - Winnings (except winnings from Philippine Charity Sweepstake Office and Lotto) - Interest income on foreign currency deposit - Interest income from long term deposit (except those with term of five years or more) - Cash and/or property dividends - Capital Gains presumed to have been realized from the sale, exchange or other disposition of real property b) Income Payments to a Non-Resident Alien Engaged in Trade or Business in the Philippines - On Certain Passive Income - cash and/or property dividend - Share in the distributable net income of a partnership - Interest on any bank deposits - Royalties - Prizes (except prizes amounting to P 10, 000 or less which is subject to tax under Sec. 25(A)(1) of the Tax Code. - Winnings (except from Philippine Charity Sweepstake Office and Lotto) - Interest on Long Term Deposits (except those with term of five years or more) - Capital Gains presumed to have been realized from the sale, exchange or other disposition of real property

c) Income Derived from All Sources Within the Philippines by a Non-Resident Alien Individual Not Engaged in Trade or Business - On gross amount of income derived from all sources within the Philippines - On Capital Gains presumed to have been realized from the sale, exchange or disposition of real property located in the Philippines d) Income Derived by Alien Individual Employed by a Regional or Area Headquarters and Regional Operating Headquarters of Multinational Companies, Income Derived by Alien Individual Employed by Offshore Banking Units and Income of Aliens Employed by Foreign Petroleum Service Contractors and Subcontractors e) Income Payment to a Domestic Corporation - Interest from any currency bank deposits and yield or any other monetary benefit from deposit substitutes and from trust fund and similar arrangements derived from sources within the Philippines - Royalties derived from sources within the Philippines - Interest income derived from a depository bank under the Expanded Foreign Currency Deposit (FCDU) System - Income derived by a depository bank under the FCDU from foreign transactions with local commercial banks - On capital gains presumed to have been realized from the sale, exchange or other disposition of real property located in the Philippines classified as capital assets, including pacto de retro sales and other forms of conditional sales based on the gross selling price or fair market value as determined in accordance with Sec. 6(E) of the NIRC, whichever is higher f) Income Payments to a Resident Foreign Corporation - Offshore Banking Units - Tax on branch Profit Remittances - Interest on any currency bank deposits and yield or any other monetary benefit from deposit substitute and from trust funds and similar arrangements and royalties derived from sources within the Philippines - Interest income on FCDU - Income derived by a depository bank under the expanded foreign currency deposits system from foreign currency transactions with local commercial banks

g) Income Derived from all Sources Within the Philippines by a Non-Resident Foreign Corporation - Gross income from all sources within the Philippines such as interest, dividends, rents, royalties, salaries, premiums (except re-insurance premiums), annuities, emoluments or other fixed determinable annual, periodic or casual gains, profits and income or capital gains; - Gross income from all sources within the Philippines derived by a non-resident cinematographic film owner, lessor and distributor - On the gross rentals, lease and charter fees derived by a non-resident owner or lessor of vessels from leases or charters to Filipino citizens or corporations as approved by the Maritime Industry Authority - On the gross rentals, charter and other fees derived by a non-resident lessor of aircraft, machineries and other equipment - Interest on foreign loans contracted on or after August 1, 1986 h) Fringe Benefits Granted to the Employee (except Rank and File) - Goods, services or other benefits furnished or granted in cash or in kind by an employer to an individual employee (except rank and file) such as but not limited to the following: - Housing - Vehicle of any kind - Interest on loans - Expenses foreign travel - Holiday and vacation expenses - Educational assistance to employees or his dependents - Membership fees, dues and other expense in social and athletic clubs or other - similar organizations - Health insurance i) Informers Reward

What are the types of Withholding Taxes? There are two main classifications or types of withholding tax. These are: a) Creditable Withholding Tax - Withholding Tax on Compensation - Expanded Withholding Tax - Withholding of Business Tax (VAT and Percentage) b) Final Withholding Tax

Aside from the required withholding of income tax by government agencies and instrumentalities on their payments to their suppliers of goods and services, what other tax types must be withheld by them. a) Value Added Tax – on all payments subject to VAT - On gross payments for the purchase of goods - On gross payments for the purchase of services b) VAT – on payments for lease or use of properties or property rights to nonresident owners; and other services rendered in the Philippines by non-residents. c) Percentage Tax – on all payments subject to percentage tax such as payments to the following: - Any person engaged in business whose gross sales or receipts do not exceed P 1, 500, 000 and who are not VAT-registered persons. (Persons exempt from VAT under Sec. 109 V of the Tax Code) - Domestic carriers and keepers of garages, except owners of bancas and owners of animal drawn two wheeled vehicle - Operators of international carriers doing business in the Philippines. - Franchise grantees of electric, gas or water utilities - Franchise grantees of radio and/or television broadcasting companies whose gross annual receipts of the preceding year do not exceed Ten Million (P 10, 000. 00) Pesos and did not opt to register as VAT Taxpayers

- Banks and non-bank financial intermediaries and finance companies - Life insurance companies - Agents of foreign insurance companies - Proprietor, lessee, or operator of cockpits, cabarets, night or day clubs, videoke/karaoke bars, karaoke television, karaoke boxes, music lounges and other similar establishments, boxing exhibitions, professional basketball games, jai-alai and race tracks - Every stock broker who effected a sale, barter, exchange or other disposition of shares of stock listed and traded through the Local Stock Exchange (LSE) other than the sale by a dealer in securities - A corporate issuer/stock broker, whether domestic or foreign, engaged in the sale, barter, exchange or other disposition through Initial Public Offering (IPO) /secondary public offering of shares of stock in closely held corporations

Withholding Tax on Compensation is the tax withheld from individuals receiving purely compensation income.

Tax Form: BIR Form 1601 -C: Monthly Remittance Return of Income Taxes Withheld on Compensation Who Are Required To File: Every registered withholding agent on compensation, which includes, but not limited to the following: • Individuals engaged in business/practice of profession with employees subject to income tax; • All Juridical persons (e. g. , Corporations, general partnerships, associations, etc. ) whether/not engaged in business; and • Government Agencies and Instrumentalities (e. g. , NGAs, GOCCs, etc. ), including LGUs.

Filing and Payment: Manual e. FPS Filing and Payment: Filing: On or before 10 th day of the month ff. the month the withholding was made, except for taxes withheld for the month of December shall be filed and paid on or before January 15 of the succeeding year. Group A - 15 days ff. end of the month Group B - 14 days ff. end of the month Group C - 13 days ff. end of the month Group D - 12 days ff. end of the month Group E - 11 days ff. end of the month Payment : On or before the 15 th day of the month ff: the month withholding was made, except for taxes withheld for the month of December which shall be paid on or before January 20 th of the succeeding year.

Tax Form: BIR Form No. 1604 -CF : Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes. Who Are Required To File: Every withholding agent/payor who is either an individual or non-individual required to deduct and withhold taxes on: - compensation paid to employees - income payments subject to Final Withholding Taxes Deadline On or before January 31 following the calendar year in which the compensation payment and other income payments subjected to final withholding taxes were paid or accrued.

Expanded Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is creditable against the income tax due of the payee for the taxable quarter year.

Tax Form: BIR Form No. 1601 -E: Monthly Remittance Return of Income Taxes Withheld (Expanded) [Except for Transactions Involving Onerous Transfer of Real Property Classified as Ordinary Asset] Who Are Required To File: Every registered withholding agent on Expanded Withholding Tax, which may include, but not limited to the following: § Individual engaged in business or practice of profession; § Non-individual (corporation, association, partnership) whether engaged in business or not; and § Government agencies and instrumentalities (e. g. , NGA, GOCC, LGU, etc. ) Filing and Payment: same as preceding withholding tax

Tax Form: BIR Form No. 1600 - Monthly Remittance Return of Value-Added Taxes and Other Percentage Taxes Withheld Who Are Required To File: • All government offices, bureaus, agencies or instrumentalities, LGUs, GOCC on money payments made to private individuals, corporations, partnerships, associations and other judicial/artificial entities as required under RA Nos. 1051, 7649, 8241, 8424 and 9337. • Payors of income subject to Value-Added Tax to Non-residents. • Payors of income to persons, natural or juridical, who opted to remit his/its VAT or percentage tax through the withholding and remittance of the same by the withholding agent/payor which option is manifested by filing the “Notice of Availment of the option to Pay the Tax through the Withholding Process”, copy furnished the withholding agent-payor and the revenue district offices of both the payor and payee. Filing and Payment: On or before the 10 th day of the month ff: the month the withholding was made, whether EFPS or manual filing and payment.

Tax Form: BIR Form No. 1604 - E : Annual Information Return of Creditable Income Taxes Withheld (Expanded)/Income Payments Exempt from Withholding Tax Who Are Required To File: Every withholding agent/payor who is either an individual or non -individual required to deduct and withhold taxes on income payments subject to Expanded/Creditable Withholding Taxes. Deadline: On or before March 1 of the year following the calendar year in which the income payments subjected to expanded withholding taxes or exempt from withholding tax were paid.

Final Withholding Tax is a kind of withholding tax which is prescribed only for certain payors and is not creditable against the income tax due of the payee for the taxable year. Income Tax withheld constitutes the full and final payment of the Income Tax due from the payee on the said income.

Tax Form: BIR Form 1601 -F: Monthly Remittance Return of Final Income Taxes Withheld Who Are Required To File: Every withholding agent/payor who is either an individual or non-individual required to deduct and withhold taxes on income payments subject to Final Withholding Taxes Filing and Payment: same as preceding withholding tax

Tax Form: BIR Form 1600 -WP : Remittance Return of Percentage Tax on Winnings and Prizes Withheld by Race Track Operators Who Are Required To File: Operators of race tracks Deadline: Within 20 days from the date the tax was deducted and withheld

Tax Form: BIR Form No. 1603 - Quarterly Remittance Return of Final Income Taxes Withheld on Fringe Benefits Paid to Employees Other than Rank and File Who Are Required To File: Every withholding agent/payor who is either an individual or non-individual required to deduct and withhold taxes on fringe benefits furnished to employees other than rank and file employees subject to Final Withholding Tax Filing and Payment: Via e. FPS: On or before the 15 th day of the month ff: the end of the calendar quarter in which the fringe benefits were granted to the recipient. Manual: On or before the 10 th day of the month ff: the end of the calendar quarter in which the fringe benefits were granted to the recipient.

Tax Form: BIR Form 1602 - Monthly Remittance Return of Final Income Taxes Withheld on Interest Paid and Yield on Deposit Substitutes/Trust/Etc. Who Are Required To File: Banks, non-bank financial intermediaries, finance corporations, investment and trust companies and other institutions required to withhold final income tax on interest paid/accrued on deposit and yield or any other monetary benefit from deposits substitutes and from trust fund and similar arrangements.

Filing and Payment: Manual Filing and Payment: e. FPS Filing: On or before 10 th day of the month ff. On or before the 15 th day of the month the withholding was made, month ff: the month withholding was except for taxes withheld for the month made of December shall be filed and paid on or before January 15 of the Payment : succeeding year. On or before the 15 th day of the month ff: the month withholding was made, except for taxes withheld for the month of December which shall be paid on or before January 20 th of the succeeding year.

Withholding Tax on Government Money Payments is the withholding tax withheld by government offices and instrumentalities, including GOCCs and LGUs, before making any payments to private individuals, corporations, partnerships and/or associations.

WHO ARE THE RESPONSIBLE OFFICIALS IN THE GOVERNMENT OFFICES CHARGED WITH THE DUTY TO DEDUCT, WITHHOLD AND REMIT WITHHOLDING TAXES? � � � For Office of the Provincial Government- the Chief Accountant, Provincial Treasurer and the Governor; For Office of the City Government- the Chief Accountant, City Treasurer and the City Mayor; For Office of the Municipal Government- the Chief Accountant, Municipal Treasurer and the Mayor; Office of the Barangay - Barangay Treasurer and Barangay Captain For NGAs, GOCCs and other Government Offices, the Chief Accountant and the Head of Office or the Official holding the highest position.

What is substituted Filing of income tax returns (ITR)? Substituted Filing of ITR is the manner by which declaration of income of individuals receiving purely compensation income which have been withheld by their employers the correct tax due, is no longer required. Instead of the filing of Individual Income Tax Return (BIF Form 1700) , the employer’s annual information return (BIR Form No. 1604 -CF) duly stamped received by the BIR may be considered as the “substitute” Income Tax Return (ITR) of the employee, inasmuch as the information provided therein are exactly the same information required to be provided in his income tax return (BIR Form No. 1700).

Who are qualified to avail the substituted filing? Employees who satisfies all of the following conditions: � Receiving purely compensation income regardless of amount; � Working for only one employer in the Philippines for the calendar year; � Withholding tax has been withheld correctly by the employer (tax due equals tax withheld); � The employee’s spouse also complies with all three (3) conditions stated above. � The employer files the annual information return (BIR Form No. 1604 -CF) � The employer issues BIR Form 2316 to each employee.

Who are considered TOP 20, 000 Corporate Taxpayers? Top twenty thousand (20, 000) private corporations shall include a corporate taxpayer who has been determined and notified by the Bureau of Internal Revenue (BIR) as having satisfied any of the following criteria: a) Classified and duly notified by the Commissioner as a large taxpayer under Revenue Regulation No. 1 -98, as amended, or belonging to the top five thousand (5, 000) private corporations under RR 12 -94, or to the top ten thousand (10, 000) private corporations under RR 172003, unless previously de-classified as such or had already ceased business operations (automatic inclusion); b) VAT payment or payable whichever is higher, of at least P 100, 000 for the preceding year; c) Annual income tax due of at least P 200, 000 for the preceding year; d) Total percentage tax paid of at least P 100, 000 for the preceding year; e) Gross sales of P 10, 000 and above for the preceding year; f) Gross purchases of P 5, 000 and above for the preceding year; g) Total excise tax payment of at least P 100, 000 for the preceding year.

What are the obligations of Top 20, 00 Corporate Taxpayers? a) In addition to the above responsibilities of a withholding agent, Top 20, 000 private corporations shall withhold the one percent (1%) creditable expanded withholding tax on the purchase of goods and two percent (2%) on the purchase of services (other than those covered by other withholding tax rates) from local suppliers where it regularly makes purchases. However, casual purchase of goods shall not be subject to withholding tax unless the amount of purchase at any one time involves P 10, 000 or more, in which case, it shall then be required to withhold the tax. The same rule apply to local/resident supplier of services other than those covered by separates of withholding tax. Provided, however, that for purchases involving agricultural products in their original state, the tax required to be withheld shall only apply to purchases in excess of the cumulative amount of P 300, 000 within the same taxable year. For this purpose, agricultural products in their original state shall only include corn, coconut, copra, palay, rice cassava, sugar cane, coffee, fruits, vegetables, marine food products, poultry and livestocks. b) Taxes withheld shall be remitted using BIR Form 1601 -E on a monthly basis thru the use of the Electronic Filing and Payment System (EFPS) on the dates prescribed for e-filers. Filing shall be done on a staggered basis provided under RR 26 -2002 and payment shall be made every 15 th day following the end of the month

c) Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307) shall be issued to the payees within twenty (20) days following the close of such payees’ taxable quarter or upon demand of the payees; d) A list of regular supplier of goods and/or services shall be submitted on a semestral basis to the RDO/LTS/LTDO having jurisdiction over the principal place of business in hard copy if below ten payees or soft-copy for those with ten (10) or more payees per semester while e-submission regardless of the number of payees for those under Electronic Filing and Payment System (EFPS). Deadline for submission of the list is not later than July 31 and January 31 of each year. However, initial list of regular suppliers should be submitted within fifteen (15) days from actual receipt hereof.

Who are considered TOP 5, 000 Individual Taxpayers? Top 5, 000 Individual Taxpayers shall refer to individual taxpayers engaged in trade or business or exercise of profession who have been determined and notified by the Bureau of Internal Revenue (BIR) as having satisfied any of the following criteria: a) VAT payment or payable whichever is higher, of at least P 100, 000 for the preceding year; b) Annual income tax due of at least P 200, 000 for the preceding year; c) Total percentage tax paid of at least P 100, 000 for the preceding year; d) Gross sales of P 10, 000 and above for the preceding year; e) Gross purchases of P 5, 000 and above for the preceding year; f) Total excise tax payment of at least P 100, 000 for the preceding year.

What are the obligations of Top 5, 000 Individual Taxpayers? a) In addition to the obligations of a withholding agent, Top 5, 000 Individual Taxpayers shall withhold the one percent (1%) creditable expanded withholding on the purchase of goods and two percent (2%) on the purchase of services (other than those covered by other withholding tax rates) from local suppliers where it regularly makes purchases. However, casual purchase of goods shall not be subject to withholding tax unless the amount of purchase at any one time involves P 10, 000 or more, in which case, it shall then be required to withhold the tax. The same rule apply to local/resident supplier of services other than those covered by separates of withholding tax. Provided, however, that for purchases involving agricultural products in their original state, the tax required to be withheld shall only apply to purchases in excess of the cumulative amount of P 300, 000 within the same taxable year. For this purpose, agricultural products in their original state shall only include corn, coconut, copra, palay, rice cassava, sugar cane, coffee, fruits, vegetables, marine food products, poultry and livestocks. b) Taxes withheld shall be remitted under BIR Form 1601 -E on a monthly basis thru the Electronic Filing and Payment System (EFPS) facility within the prescribed period.

c) Certificate of Creditable Tax Withheld at Source (BIR Form No. 2307) shall be issued to the payees within twenty (20) days following the close of such payees’ taxable quarter or upon demand of the payees; d) A list of regular supplier of goods and/or services shall be submitted on a semestral basis to the RDO/LTS/LTDO having jurisdiction over the principal place of business in hard copy if below ten payees or soft-copy for those with ten (10) or more payees per semester while e-submission regardless of the number of payees for those under Electronic Filing and Payment System (EFPS). Deadline for submission of the list is not later than July 31 and January 31 of each year. However, initial list of regular suppliers should be submitted within fifteen (15) days from actual receipt hereof.

Codal Reference: Republic Act Nos. 8424, 9337, 9442, 9504 Sections 57 to 58 and 78 to 83 of the National Internal Revenue Code (NIRC)

Related Revenue Issuances: RR No. 2 -98, RR No. 3 -98, RR No. 8 -98, RR No. 12 -98, RR No. 3 -99, RR No. 8 -2000, RR No. 102000, RR No. 6 -2001, RR No. 12 -2001, RR No. 92001, RR No. 3 -2002, RR No. 4 -2002, RR No. 142002, RR No. 19 -2002, RR No. 26 -2002, RR No. 14 -2003, RR No. 16 -2003, RR No. 17 -2003, RR No. 30 -2003, RR 1 -2004, RR 3 -2004, RR No. 52004, RR 1 -2006, RR 2 -2006, RR 42007, RR 8 -2005, RR 4 -2008, RR 5 -2008, RR 62008, RR 7 -2008, RR 14 -2008, RR No. 10 -2008, RR 1 -2009, RR 2 -2009, RR 3 -2009, RR 5 -2009, RR 6 -2009, RR 8 -2009, RR 10 -2009