BIR Issuances – RMC 55-2024

The BIR announced the Extension of the Ninety-Day Period for the Actual Imposition of Withholding Tax on Gross Remittances Made by Electronic Marketplace Operators and Digital Financial Services Providers to Sellers/Merchants Prescribed under Revenue Regulations No. 16-2023

Revenue Memorandum Circular (RMC) No. 55-2024

15 April 2024

The provision of RMC No. 8-2024 allowed the electronic marketplace operators and digital financial services providers a transitory period of ninety (90) days from the date of its issue to comply with the relative policies or requirements of other government agencies, if any, and to give them an opportunity to adjust and properly comply with the provisions of RR No. 16-2023 prior to the actual imposition of the prescribed creditable withholding tax.

In order to provide the said taxpayers a sufficient time to comply and adjust to the requirements of RR No. 16-2023 and other government agencies, if any, the prescribed transitory period is hereby EXTENDED TO AN ADDITIONAL NINETY (90) DAYS OR UNTIL JULY 14, 2024.

Copy of the RMC can be accessed thru the link below.