REVENUE MEMORANDUM ORDER NO. 14-2024 issued on April 12, 2024, Creates Alphanumeric Tax Code (ATC) for Creditable Withholding Tax on Certain Income Payments by Joint Ventures/Consortiums pursuant to the issuance of Revenue Regulations (RR) No. 14-2023, namely:
| ATC | Description | Tax Rate | Legal Basis | BIR Form No. |
|---|---|---|---|---|
| Income payments made by joint ventures, whether incorporated or not, taxable or non-taxable, to their | 1% | |||
| WI750 WC730 | On gross income earned by foreign nationals or non- Filipino citizens, regardless of their residency, who are employed and assigned in the Philippines by Offshore Gaming Licensee or its Accredited Service Provider | RR No. 14-2023 | 1601-EQ/2307 | |
| WI760 WC740 | Income payments made by joint ventures, whether incorporated or not, taxable or non-taxable, to their local/resident supplier of services. Individual Corporate | 2% | ||
| WC750 | On the share of each coventurer/member from the net income of the joint venture/consortium not taxable as corporation prior to actual or constructive distribution thereof. Corporate | 15% |