The Philippines Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular No. 55-2024 of 15 April 2024, which extends the transition period for electronic marketplace operators and digital financial services providers to impose withholding tax on gross remittances to sellers/merchants. As previously reported, the 1% withholding tax requirement was introduced by Revenue Regulations No. 16-2023. The following is a BIR media release on the extension.
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Lumagui: BIR grants 9…