Creditable Withholding Tax on Top 5,000 Corporations

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BIR REVENUE MEMORANDUM CIRCULAR NO. 28-94: Creditable Withholding Tax on Top 5,000 Corporations

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Title Supreme Court: Creditable Withholding Tax on Top 5,000 Corporations

Law: Bir (dof) Revenue Memorandum Circular No. 28-94

Decision Date: Jul 29, 1994

The BIR mandates a one percent creditable withholding tax on income payments made by the top 5,000 corporations to their local suppliers of goods, requiring compliance with specific reporting and remittance procedures.

income payments

top corporations

revenue regulations

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