OrbitaxPhilippines Extends Transition Period for Withholding Tax on Payments Made by Online Platforms to Suppliers of Goods and Services
|Approved Changes|Philippines
The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 55-2024 of 15 April 2024, which extends the transition period for electronic marketplace operators and digital financial services providers to impose withholding tax on gross remittances to sellers/merchants. As previously reported, the 1% withholding tax requirement was introduced by Revenue Regulatio…
Continue Reading
