Let's Get on the TRAIN
BUREAU OF INTERNAL REVENUE
The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Circular (RMC) 50-2018, 11 May 2018, clarifying certain provisions of Revenue Regulations (RR) Nos. 8-2018 and 11-2018 Implementing the Income Tax Provisions of Republic Act (R.A.) No. 10963, Otherwise Known as “Tax Reform for Acceleration and Inclusion (TRAIN)” Act. The RMC provides answers to the most frequently asked questions on the following income and withholding tax provisions:
RMC No. 50-2018 merely provides a general guidance on the foregoing tax provisions. It must be read in conjunction with the pertinent provisions of the TRAIN Act, the Tax Code and its amendatory regulations.
Attached is the full text of the issuance.
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