BIR REVENUE MEMORANDUM CIRCULAR NO. 4-99

: It applies to all internal revenue officials, employees, withholding agents, and others concerned who are involved in the withholding of taxes on compensation income.
: It implements Section 24(A)(1)(c) in relation to Section 79 of Republic Act No. 8424 (RA 8424 or the Tax Reform Act of 1997).
: The table is applicable for compensation income earned starting January 1, 1999.
: No, fringe benefits granted or furnished to employees other than rank and file employees are excluded from this withholding tax table.
: The table takes into consideration the new schedule of income tax rates and the increased personal and additional exemptions as provided in Sections 24(A)(1)(c) and 35 of RA 8424.
: For taxable year 1999 and thereafter, the same table shall be used except for column 8, whose tax rate shall be 32% beginning January 1, 2000.
: The increase in personal and additional exemptions reduces the taxable base for individuals, which affects the computation of the withholding tax and ultimately the net income of taxpayers.
: Beethoven L. Rualo, Commissioner of Internal Revenue, signed the circular.
: The text is available at the Office of the National Administrative Register, U.P. Law Complex, Diliman, Quezon City.