IN response to the enacted Tax Reform for Acceleration and Inclusion (TRAIN) Law, the Bureau of Internal Revenue issued Revenue Memorandum Order No. 29-2018 on May 11, 2018, creating Alphanumeric Tax Codes (ATCs) to properly identify and monitor tax collections from selected revenue sources under excise tax.
The following are the new ATCs for excise tax:
Please be guided accordingly.
Source: P&A GRANT THORNTON
Certified Public Accountants
Punongbayan & Araullo (P&A) is the Philippine member firm of Grant Thornton International Ltd.
As published in SunStar Cebu dated 17 July 2018.