The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) No. 80-2022 circularizing the Lists of Top Withholding Agents (TWAs) required to deduct and remit the 1% or 2% Creditable Withholding Tax (CWT) for the purchase of goods and services under Revenue Regulations (RR) No. 31-2022.
The list of TWAs including those for deletion can be found on the BIR website and is provided with a search facility for the convenience of all concerned.
The obligation to deduct and remit the 1% or 2% CWT shall continue, commence or cease, as the case may be, effective July 1, 2022.
Any taxpayer not found in any of the published lists of TWAs is deemed excluded and therefore not required to deduct and remit the 1% or 2% CWT.