MA. WHENA VASQUEZ

Early this year, the Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular No. (RMC) 01-2018, revising withholding tax rates on certain income payments to individual payees. A few months after its effectivity and one month before the filing deadline (April 30, 2018) for the first quarterly expanded/creditable withholding tax return (BIR Form No. 1601EQ), the BIR released yet another issuance—Revenue Regulations No. (RR) 11-2018—canceling the said amendment and further amending certain provisions of RR 2-98, as amended, for further implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law.

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