REVENUE REGULATIONS NO. 15-2022 issued on December 9, 2022 further amends
certain provisions of Revenue Regulations (RR) No. 2-98 as amended by RR No. 11-2018,
which implemented the provisions of Republic Act No. 10963 (TRAIN Law) relative to some
changes in the rate of Creditable Withholding Tax under Section 57 of the Tax Code.
Said provision stated that “beginning January 1, 2019, the rate of withholding shall not
be less than one percent (1%) but not more than fifteen percent (15%) of the income payment”.
Section 2 of RR 11-2018 on the amendments to Section 2.57.2 of RR 2-98, as amended,
is hereby further amended to read as follows:
“SECTION 2.57.2. Income Payments Subject to Creditable
Withholding Tax and Rates Prescribed Thereon. – Except as herein otherwise
provided, there shall be withheld a creditable income tax at the rates herein
specified for each class of payee from the following items of income payments
to persons residing in the Philippines:
(A) xxx
xxx xxx xxx
(P) MERALCO Payments on the following:
(1) MERALCO Refund arising from the ERC Case No. 2020-
043 RC Order promulgated on February 19, 2021 and ERC
Case Nos. 2010-069 RC, 2011-088 RC, 2012-054 RC,
2013-056 RC, and 2014-029 RC Orders promulgated on
April 29, 2022 – On gross amount of refund given by
MERALCO to non-residential customers – Fifteen percent
(15%)
(2) interest income on the refund of meter deposits determined,
computed and paid in accordance with the “Rules to Govern
Refund of Meter Deposits to Residential and NonResidential Customers,” as approved by the ERC under
Resolution No. 12, Series of 2016, dated April 5, 2016
implementing Article 8 of the Magna Carta for Residential
Electricity Customers and ERC Resolution No. 2005-10
RM (Otherwise known as DSOAR) dated January 18, 2006,
exempting all electricity consumers from the payment of
meter deposit.
On gross amount of interest paid directly to the customers
or applied against the customer’s billings:
(i) Residential and General Service customers whose monthly
electricity exceeds 200 kwh as classified by MERALCO –
Ten percent (10%)
(ii) Non-Residential Customers — Fifteen percent (15%)
(Q) Interest income on the refund paid through direct payment or
application against customer’s billings by other electric
Distribution Utilities (DUs) in accordance with the rules
embodied in ERC Resolution No. 12, Series of 2016, dated April
5, 2016, governing the refund of meter deposits which was
approved and adopted by ERC in compliance with the mandate
of Article 8 of the Magna Carta for Residential Electricity
Customers and Article 3.4.2 of DSOAR, exempting all electricity
consumers, whether residential or non-residential, from the
payment of meter deposit.
On gross amount of interest paid directly to the customers or
applied against the customer’s billings:
(i) Residential and General Service customers whose monthly
electricity consumption exceeds 200 kwh as classified by
the concerned DU – Ten percent (10%)
(ii) Non-Residential Customers – Fifteen percent (15%)
(R) xxx
xxx xxx xxx