8box Solutions Inc.

4_20230710_150500_0001

Contact Number: 09369340340
Email: sales@8box.solutions

REVENUE MEMORANDUM ORDER NO. 20-2011 issued on May 31, 2011 revises the format of the Monthly Report on Registration and Remittance of Withholding Taxes (BIR Form W-7) and the manner and procedures of its preparation, thereby amending Revenue Memorandum Order No. 72-98. The revised format of BIR Form W-7 shall consist of eleven (11) schedules, namely: a. Schedule A – Registration b. Schedule B – Total Amount of Taxes Remitted (by type of Payor) c. Schedule C – Compensation Paid and Amount of Tax Withheld d. Schedule D–Amount of Creditable (Expanded) Taxes Withheld and Remitted (by type of Payor/Withholding Agent and by nature of income payments) e. Schedule E – Amount of Final Taxes Withheld and Remitted (Regular Rates)(by type of Payor/Withholding agent and by nature of income payments) f. Schedule F – Remittances using BIR Form 1600 g. Schedule G – Remittances of Top 5,000 Individuals h. Schedule H – Remittances of Top 20,000 Private Corporations i. Schedule I – Remittances of National Government Agencies (this category includes State Universities and Colleges) j. Schedule J – Remittances of Local Government Units k. Schedule K – Remittances of Government-Owned and Controlled Corporations l. Schedule L – Details of Withholding Tax Remittances using BIR Form 1606 (Sale of real properties classified as “ordinary assets”) m. Schedule M – Details of Fringe Benefits Tax remitted Taxpayer Service Section (TSS) of the Revenue District Office (RDO) shall be responsible in accomplishing Schedule A – columns A to E of the W-7 report. TSS shall ensure that the beginning number of Withholding Agents (W/As) per tax type shall be the ending number of the preceding month’s report. The number of new registrants shall include W/As transferred from other RDOs. Document Processing Section (DPS) shall be responsible in accomplishing Schedule B of the W-7 report and in the preparation of Schedules C to K. The amount of taxes withheld as indicated in the tax returns shall be captured, encoded and summarized by nature of income payments (by Alphanumeric Tax Code) and by type of W/A (type of W/As indicated in the report format). Call-up letters to be signed by the Assistant Commissioner of Collection Service shall be sent to the Regional Director, in case of failure of the RDOs under its jurisdiction to submit the required W-7 report on time. Returned W-7 reports for reasons indicated in the return memo should be acted upon within fifteen (15) days from receipt and amended reports must be submitted within the same period. The Order shall cover reports for the month of May 2011 and onwards.