(Revenue Memorandum Circular No. 25-2024, February 13, 2024, BIR Advisory)
This Tax Alert is issued to inform all concerned on the extension of deadline for the submission of Alphabetical List of Employees/Payees from Whom Taxes Were Withheld (alphalist).
Pursuant to RMC No. 25-2024, the deadline for submission of alphalist shall be thirty (30) days from the date of posting of a tax advisory on the BIR website announcing the availability of the updated version of the Alphalist Data Entry and Validation Module.
In this regard, on February 16, 2023, the Bureau of Internal Revenue (BIR) posted a tax advisory on their website that the updated version of the Alphalist Data Entry and Validation Module (Version 7.2) is now available. The revised version includes the 5% tax credit incentive under R.A. No. 9505 or the Personal Equity and Retirement Account (PERA) Act of 2008 and the revised income tax rates beginning 2023 under R.A. No. 10963 or TRAIN Law.
Taxpayers who have their own extract program must observe the revised file structures and standard naming conventions provided in Annex A and B of said circular. Further, taxpayers who have submitted their alphalist using the old format are also advised to re-submit using the new version.
