Updates on alphanumeric tax codes for capital gains tax transactions under TRAIN and CREATE Laws
The Bureau of Internal Revenue (BIR) has recently published Revenue Memorandum Order (RMO) No. 18-2022 to facilitate the proper identification and monitoring of tax collection on capital gains tax for the following transaction types:
a) BIR Form No. 1707 representing capital gains tax for onerous transfer of shares of stock not traded through the local stock exchange; and
b) BIR Form 1707-A representing annual capital gains tax return for onerous transfer of shares of stock not traded through the local stock exchange.
The updated alphanumeric tax codes (ATCs) are shown below:
Please be guided accordingly.
P&A Grant Thornton
Certified Public Accountants
As published in SunStar Cebu, dated 08 April 2022