QuestionsQuestions (BIR REVENUE REGULATION NO. 6-94)
It amends Revenue Regulations No. 6-85, known as the Expanded Withholding Tax Regulations, specifically addressing creditable withholding taxes on income payments.
Section 245 in relation to Section 50(b) of the National Internal Revenue Code.
The gross selling price or total amount of consideration paid for the sale, exchange, or transfer of real property by individuals or corporations, with specific rates based on the nature of the seller and the property.
A rate of 2.5% is applied to such transactions involving sellers registered and certified with HUDCC/HLURB.
A 5% withholding tax applies to these transactions, with certification from CREBA or NREA and registration with HUDCC/HLURB.
A 7.5% withholding tax is imposed on such sales.
Individuals connected with a trade or business making payments, juridical persons regardless of trade or business engagement, banks in certain cases, and all government offices including government-owned or controlled corporations.
Yes, they are considered withholding agents for taxable sales but do not need to register as such.
A 2.5% withholding tax on the gross amount paid, equating the Philippine peso value of the foreign letter of credit for export sales.
A 1.5% withholding tax on the gross amount paid representing sales to cardholders.
The top 5,000 corporations as determined by the Commissioner of Internal Revenue and all government offices including government-owned or controlled corporations.
Fifteen days after publication in the Official Gazette or any newspaper of general circulation.