BIR issues CWT rules for certain wholesale goods

WIRE — GROSS PAYMENTS made by top withholding agents to manufacturers or direct importers for covered goods intended for wholesale are subject to a preferential 0.5% creditable withholding tax (CWT), the Bureau of Internal Revenue (BIR) said. The BIR issued Revenue Memorandum Circular No. 79-2026 on Monday seeking to clarify when top withholding agents should apply the

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