REVENUE REGULATIONS NO. 24-2003 issued on August 29, 2003 amends pertinent provisions of Revenue Regulations No. 16-2003 relative to the taxation of privilege stores. Every organizer or exhibitor is obliged to post its Certificate of Registration (COR) issued by the BIR in a conspicuous place in the area or space devoted to the establishment of privilege-stores. If such organizer or exhibitor is not yet registered with the BIR, then he/it must register with the BIR at least 15 days before the commencement of privilege stores activity. The COR shall be valid within the calendar year. The exhibitor/organizer, upon determination of the number and of the respective identities of those who have leased/sub-leased the spaces for the operation of privilegestores, shall have the duty, prior to the opening thereof and prior to the issuance of his/its COR by the BIR (if not yet registered), to provide the Revenue District Office (RDO) having jurisdiction over the place where the operation of the privilege-store is held with the list of the names, residence addresses, stall number/slot in the privilege store outlet, location site of the privilege store outlet, individual Taxpayer Identification Number (TIN) of persons/entities participating in the event and the specific dates and duration when such operations shall be conducted. Participating sellers-retailers with regular or permanent places of business and which are registered already with the BIR should submit also a copy of its COR to the exhibitor. Every organizer or exhibitor is obliged to demand from the privilege-store operator the presentation of TIN and proof of payment of actual withholding tax due on its income payment, or of advance percentage tax due for payment prior to the actual operation of the privilege-store or prior to the start of the month to which the advance tax payment shall be applied. Every privilege-store operator shall, upon accrual or payment of rentals of subleased spaces to the exhibitor/organizer or lessor/owner of leased property, withhold tax on rentals at the rate of 5% of the gross amounts. The tax withheld shall be remitted/paid on or before the 10th day of the following month using the Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded) [BIR Form No. 1601 E], except for taxes withheld for the month of December of each year, which shall be filed on or before January 15 of the following year. If the privilege-store operator does not yet have a TIN, then, it must apply for a TIN with the RDO having jurisdiction over the privilege-store activity/event. Every privilege-store operator shall pay to the BIR on a monthly basis advance Percentage Tax through the Authorized Agent Bank (AAB) or Revenue Collection Officer (RCO), in the absence of an AAB, of the RDO having jurisdiction over the place where such privilege-stores have been set up. Such advance payment shall be made on or before the first day of operation of the privilege store and every first (1st) day of the month thereafter that it is in operation using BIR Form No. 0605 (Payment Form). If the duration of the privilege-store is for less than one month, then the advance payment shall cover only said lesser period. Unless the exhibit or business activity covers a lesser period, the following fixed amounts of Percentage Tax shall be imposed and collected on a monthly basis from the privilege-store operators during the entire duration of the privilege-store’s operation: a) P 150.00 per day or P 4,500.00 per month for privilege-stores set up in airconditioned place/area or establishment located in a City or First Class Municipality b) P 100.00 per day or P 3,000.00 per month for privilege-stores set up in non-airconditioned place/area or establishment located in a City or First Class Municipality c) P 75.00 per day or P 2,500.00 per month for privilege-stores set up in airconditioned place/area or establishment located in a Municipality other than a First Class Municipality d) P 50.00 per day or P 1,500.00 per month for privilege-stores set up in non-airconditioned place/area or establishment located in a Municipality other than a First Class Municipality Upon registration by the privilege-store operator with the BIR and compliance with its bookkeeping requirements, the “privilege-store” then ceases to be so and shall thenceforth be governed by pertinent existing revenue laws and regulations.” The advance payment of Percentage Tax shall be evidenced by the duly validated copy of BIR Form No. 0605 and the Official Receipt/Deposit Slip issued by the AAB or the RCO of the RDO having jurisdiction over the place where the privilege-store operates.