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 Regulations No. 16-2023. The following is a BIR media release on the extension. --- Lumagui: BIR grants 90-day extension for compliance with Withholding Tax on Online Sellers/Merchants under Revenue Regulations No. 16-2023 Bureau of Internal Revenue Commissioner Romeo D. Lumagui Jr. granted an extension of the transitory...