BIR Circularizes the Additional List of Top Withholding Agents

On 22 June 2023, the Bureau of Internal Revenue (“BIR”) issued Revenue Memorandum Circular No. 70-2023 to update the List of Top Withholding Agents (“TWAs”) who are required to deduct or remit either the 1% or 2% Creditable Withholding Tax (“CWT”) from the income payments to their suppliers of goods and services, pursuant to Revenue Regulations No. 31-2020 (“RR 31-2020”). RR 31-2020, which was issued last 18 December 2020, further amended the criteria for identifying the Top Withholding Agents, specifically on income payments subject to CWT as well as the rates prescribed. 

The inclusions and deletions of the BIR’s List of Top Withholding Agents may be found on the BIR’s website, under the Additional List of Top Withholding Agents Published on June 22, 2023. Both Individuals and Non-Individuals have been added and delisted from the list published in the previous year.
Accordingly, the obligation to deduct and remit to the BIR the 1% and 2% CWT shall commence or cease effective 1 July 2023. Further, taxpayers not found in the published List of TWAs are not required to deduct or remit such 1% or 2% CWT.