The Bureau of Internal Revenue (BIR) has issued Revenue Regulation (RR) No. 15-2022 to inform all concerned regarding the amendment of the creditable withholding rates of income payments to Meralco.
These are the creditable withholding tax rates for the following income payments:
I. Meralco payments on the following:
a. Meralco Refund arising from ERC Case Nos. 2020-043, 2010-069, 2011-088, 2012-054, 2013-056, and 2014-029 – On gross amount of refund given by Meralco to non-residential customers – 15%.
b. Interest Income on the refund of meter deposits determined, computed, and paid in accordance with the “Rules to Govern Refund of Meter Deposit to Residential and Non-residential Customers” dated January 18, 2006, exempting all electricity consumers from payment of meter deposit.
On gross amount of interest paid directly to the customers or applied against the customer’s billings:
i. Residential and General Service customers whose monthly electricity exceeds 200 kwh – 10% and
ii. Non-residential customers – 15%.
II. Interest income on the refund paid through direct payment or application against customer’s billings by other electric Distribution Utilities (DUs) in accordance with the rules embodied in ERC Resolution No. 12, Series of 2016, dared April 5, 2016, exempting all electricity consumers, whether residential or non-residential, from the payment of meter deposits.
On gross amount of interest paid directly to the consumer or applied against the customer’s billings:
i. Residential and General Service customers whose monthly electricity exceeds 200 kwh – 10% and
ii. Non-residential customers – 15%.
Please be guided accordingly.
Source:
P&A Grant Thornton
Certified Public Accountants
P&A Grant Thornton is the Philippine member firm of Grant Thornton International Ltd.
As published in SunStar Cebu, dated 22 December 2022
