BIR Issuances – RMC 15-2024

The BIR announced the temporary use of BIR Form No. 0605 for the Remittance of Creditable Withholding Tax by Joint Ventures/Consortiums under Revenue Regulations No. 14-2023.

Revenue Memorandum Circular (RMC) No. 15-2024

25 January 2024

According to BIR, pending the finalization of the revised BIR Form No. 1601-EQ [Quarterly Remittance Return of Creditable Income Taxes (Expanded)] which sall include the additional Alphanumeric Tax Codes (ATCs) for different new Creditable Withholding Tax (CWT), all concerned joint ventures/consortiums shall comply to the following procedures in remitting the CWT prescribed by Revenue Regulations (RR) No. 14-2023:

1. BIR Form No. 0605 (Payment Form) shall be accomplished using only the electronic Filing and Payment System (eFPs) or the eBIRForms Package facility.
2. Fill-out, among others, the following fields of the said form by indicating the corresponding information:
   1. For ATC – MC200
   2. For Tax Type – WE
   3. Under the “Manner of Payment”, Click the “OTHERS (Specify)” box and in the corresponding box, indicate the applicable information – “Income Payment for goods – 1%, Income payment for services – 2%, and/or Distributive Share of Co-venturer – 15%”
3. Pay the corresponding taxes thru the online payment facilities of the BIR, or manually thru the over-the-counter (OTC) facility of the appropriate Authorized Agent Banks (AABs), or Revenue Collection Agents of the Revenue District Office where the taxpayer is duly registered.

Further, BIR clarified that the availability of the revised BIR Form No. 1601-EQ containing the new Alphanumeric Tax Codes (ATCs) shall be announced through the issuance of another Revenue Memorandum Circular.

Copy of the RMC can be accessed below.