RMC No. 27-2022 On Lists of Withholding Agents Required to Deduct and Remit


The Bureau of Internal Revenue recently published the lists of Top Withholding Agents (TWA) who are required to deduct and remit either the one percent (1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to their suppliers of goods and services, respectively, as per Revenue Regulations No. 31-2020. This can be accessed via BIR Official website www.bir.gov.ph

Revenue Memorandum Circular (RMC) No. 27-2022 issued on March 16, 2022 further states that the obligation to deduct and remit the 1% and 2% CWT for the additional TWAs shall commence effective April 1, 2022 as per the newly set criteria under Revenue Regulations (RR) No. 31-2020. The requirement does not apply to any taxpayer not included in the published list of TWAs.

Please check source links, viz:

RMC No. 27-2022:  https://www.bir.gov.ph/images/bir_files/internal_communications_2/RMCs/2022%20RMCs/RMC%20No.%2027-2022.pdf

RR No. 31-2020:  https://www.bir.gov.ph/images/bir_files/internal_communications_1/Full%20Text%20RR%202020/RR%20No.%2031-2020.pdf