RR No. 15-2022: Relative to some changes in the rate of Creditable Withholding Tax on certain income payments

BIR Issued RR No. 15-2022 amending certain provisions of Revenue Regulations (RR) No. 2-98 as Amended by RR No. 11-2018, which implemented the provisions of Republic Act 10963, otherwise known as Tax Reform for Acceleration and Inclusion (TRAIN) Law, Relative to some changes in the rate of Creditable Withholding Tax on Certain Income Payments

These regulations are effective from December 3, 2022.

Income payments are subject to Creditable Withholding Tax and Rates Prescribed thereon. – Except as herein otherwise provided, there shall be withheld creditable income tax at the rate herein specified for each class of payee from the following items of income payments to persons residing in the Philippines.

Meralco refund arising from the ERC Case No. 2020-043 RC Order promulgated on February 19, 2021, and ERC Case Nos. 2010-069 RC,2011 – 088 RC, 2012- 054 RC, 2013-056 RC, and 2014-029 RC Orders promulgated on April 29, 2022 – On the gross amount of refund given by Meralco to non-residential customers- Fifteen Percent (15%).

On the gross amount of interest paid directly to the customers or applied against the customer’s billings:

Residential and General Service customers whose monthly electricity consumption exceeds 200kwh as classified by the concerned DU – Ten Percent (10%)

Non- residential customers – Fifteen percent (15%).