Veto of Section 8 of Republic Act No. 11976
On 10 January 2024, the Bureau of Internal Revenue issued Revenue Memorandum Circular No. 3-2024, with Annex B thereof, circulating a copy of the Veto Message of the President of the Republic of the Philippines on Republic Act No. 11976 or the Ease of Paying Taxes Act (“EoPTA”). The President vetoed Section 8 of the EoPTA, which exempts micro taxpayers from the obligation to withhold creditable withholding taxes under Section 57(B) of the National Internal Revenue Code, as amended. A micro taxpayer, which is one of the new classifications of taxpayers under the EoPTA, refers to a taxpayer whose gross sales are less than PHP3,000,000.00.
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