QuestionsQuestions (KRI REVENUE REGULATION NO. 18-93)
It amends prior withholding tax regulations to specify the time and manner of filing withholding tax returns and remittances of creditable and final income taxes withheld by Large Taxpayers.
The regulation is issued pursuant to Section 245 in relation to Sections 50, 51, and 74 of the NIRC, as amended, and in relation to Section 4 of RA No. 7646.
Within ten (10) days after the end of each calendar month, together with the filing of the appropriate return (BIR Form 1743-W).
They must be remitted on or before the 25th of January of the succeeding year.
Large Taxpayers must remit within twenty-five (25) days after the end of each calendar month, with the filing of the appropriate return (BIR Form 1743-W).
BIR Form 1743-W.
The text explicitly states the December deadline (on or before January 25) for taxes withheld generally; it then adds a special 25-day monthly remittance period for Large Taxpayers. The regulation’s excerpt does not expressly provide a separate December rule for Large Taxpayers.
Taxes deducted and withheld on: (i) compensation income; (ii) income payments subject to creditable (expanded) withholding taxes; and (iii) income subject to final withholding taxes.
They are identified and notified by the Bureau of Internal Revenue pursuant to RA No. 7646, as implemented by Revenue Regulations No. 12-93.
They take effect on taxes withheld beginning the month following the month of notification to the Large Taxpayer of its status.
It amends all rules and regulations (or portions thereof) inconsistent with the provisions of the new regulation.
It indicates that the remittance must be accompanied by filing the correct prescribed BIR form for withholding taxes—specified in the text as BIR Form 1743-W.
Within twenty-five (25) days after the end of March (i.e., by the 25th day after March ends), with filing of BIR Form 1743-W.
Within ten (10) days after the end of February, together with filing of BIR Form 1743-W.
RA No. 7646 authorizes/underlies the Large Taxpayer program; the BIR identifies and notifies Large Taxpayers under RA 7646, as implemented by Revenue Regulations No. 12-93.
It grants a longer deadline for monthly remittance—25 days instead of 10 days—while still requiring monthly filing using BIR Form 1743-W.