REVENUE MEMORANDUM CIRCULAR NO. 62-2004 issued on October 11, 2004 prescribes the use of the Government Expense Code implementing Sections 2.57.2, 4.114 and 5.116 of Revenue Regulations (RR) No. 2-98 in relation to Sections 57(B), 114(c) and 116 to 123 of Republic Act No. 8424.
           The revised Government Expense Code takes into consideration the new rates provided in RR Nos. 12-2001, 14-2002 and 30-2003 and shall be used for the computation of taxes withheld at source on the sale of goods and services to the government or to any of its political subdivision including barangays, instrumentalities or agencies, including government-owned or controlled-corporations whether subject to creditable Income Tax, VAT and Percentage Tax beginning January 1, 2004.