Forex Rate for Withholding Tax Collection

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BIR REVENUE MEMORANDUM CIRCULAR NO. 40-92: Forex Rate for Withholding Tax Collection

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Title Supreme Court: Forex Rate for Withholding Tax Collection

Law: Bir Revenue Memorandum Circular No. 40-92

Decision Date: Jul 27, 1992

BIR Revenue Memorandum Circular No. 40-92 establishes the rules for converting foreign currency income payments into Philippine Pesos for withholding tax collection, specifying the applicable foreign exchange rates at the time of payment or transaction.

withholding tax

foreign exchange

income payments

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