BIR extends the 90-day period for the actual imposition of Withholding Tax on Gross Remittances by electronic marketplace operators and digital financial services providers

The Philippine Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) No. 55-2024 which extended the period for the actual imposition of Withholding Tax on Gross Remittances by electronic marketplace operators and digital financial services providers to sellers/merchants. RMC No. 8-2024 previously established a 90-day period for compliance from January 11, 2024 before the prescribed creditable withholding tax would be imposed. 

 

RMC No. 55-2024 extended the period for an additional 90 days or until July 14, 2024 to provide taxpayers sufficient time to fulfill the requirements before its imposition. 

 

The full memorandum may be accessed here.

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