OBLIGATION TO DEDUCT AND REMIT 1% OR 2% CWT SHALL CONTINUE, COMMENCE OR CEASE, AS THE CASE MAY BE, EFFECTIVE AUGUST 1, 2021. ANY TAXPAYER NOT FOUND IN THE PUBLISHED LIST OF TWA IS DEEMED EXCLUDED AND THEREFORE NOT REQUIRED TO DEDUCT AND REMIT THE 1% OR 2% CWT. (RMC No. 88-2021, July 16, 2021)
July 19, 2021
The BIR circularizes the lists of withholding agents required to deduct and remit the 1% or 2% Creditable Withholding Tax (CWT) for the Purchase of Goods and Services under Revenue Regulations No. 3l-2020. Top Withholding Agents (TWAs) are required to deduct and remit either 1% or 2% creditable withholding tax
