BIR Form 1601EQ reflects new withholding tax rates

So we have just filed our first BIR Form No. 1601EQ. It would be hard to miss that the new expanded withholding tax rates for individuals are already reflected in the new form pursuant to Revenue Regulations No 11-2018 (RR 11-2018) and Revenue Regulations 14-2018 (RR 14-2018). Here’s a comparison between the new tax rates and the old ones.

New Expanded Withholding Tax Rates

New Wtax Rates 2018

The new BIR Form No. 1601EQ as well includes new alphanumeric tax codes (ATC) to implement further the provisions in Republic Act No. 10963 (TRAIN Law).

New Alphanumeric Tax Codes

New ATC 2018

For a complete list of the updated alphanumeric tax codes for expanded withholding tax for individuals, click here.

 

1 thought on “BIR Form 1601EQ reflects new withholding tax rates

  1. Pingback: New BIR Forms 1601EQ and 1601FQ – Facing PH Taxes

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