REVENUE MEMORANDUM CIRCULAR NO. 27-2022 issued on March 16, 2022 circularizes the recently published lists of withholding agents, for inclusion to the existing List of Top Withholding Agents (TWAs) who are required to deduct and remit either the one percent (1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to their suppliers of goods and services, respectively. The said lists are posted at the BIR’s website (www.bir.gov.ph).
               The obligation to deduct and remit to the BIR the 1% and 2% CWT for these additional TWAs shall commence effective April 1, 2022. Any taxpayer not included in the published list of TWAs is not required to deduct and remit the 1% or 2% CWT pursuant to Revenue Regulations No. 31-2020.
                    Individual written notices shall be issued duly signed by the Revenue District Officer
and served to the BIR-registered addresses of the additional TWAs.