The BIR issued the Revnue Memorandum Circular No. 70-2023 on June 22, 2023
circularizes the additional List of Top Withholding Agents (TWAs) for inclusion to and
deletion from the existing List of TWAs required to deduct and remit either the one percent
(1%) or two percent (2%) Creditable Withholding Tax (CWT) from the income payments to
their suppliers of goods and services, respectively, pursuant to Revenue Regulations (RR) No.
31-2020. The said Lists are posted at the BIR’s website (

Accordingly, the obligation to deduct and remit to the BIR the 1% and 2% CWT
shall commence or cease, as the case may be, effective July 1, 2023. Any taxpayer not found
in the published List of TWAs is not required to deduct and remit the 1% or 2% CWT under
the abovementioned RR.