Revenue Memorandum Circular No. 70-2023


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 [...]