REVENUE MEMORANDUM CIRCULAR NO. 56-2009 issued on October 5, 2009 prescribes the use of the updated Government Money Payment Chart to implement Sections 2.57.2, 4.114 and 5.116 of Revenue Regulations (RR) No. 2-98, as amended by RR No. 16- 2005, in relation to Sections 57(B), 114(C) and 116 to 123 of Republic Act (RA) No. 8424, as amended by RA No. 9337, amending for the purpose Revenue Memorandum Circular (RMC) No. 5-2006.
     The Government Money Payment Chart under RMC No. 5-2006 prescribing the withholding tax rates to be used in the computation of taxes to be withheld (creditable and final) on the sale of goods and services to the government or to any of its political subdivisions including barangays, instrumentalities or agencies and government-owned or controlled corporations is updated/amended. The new Government Money Payment Chart takes into consideration the new rates provided in RR Nos. 12-2001, 14-2002, 17-2003, 30- 2003, 16-2005 and other related issuances.