REVENUE MEMORANDUM CIRCULAR NO. 79-2024
Revenue Memorandum Provision Circular (RMC) No. 8-2024 prescribed a 90-day transitory period prior to its actual implementation. In pursuant to the provisions of Revenue Regulations (RR) No. 16-2023, for compliance purposes by electronic marketplace operators and digital financial services providers to the relative policies or requirements of other government agencies and to give them an opportunity to adjust and comply with the provisions of the said Revenue Regulation. Subsequently, RMC No. 55-2024 was issued extending its implementation for another 90 days or until July 14, 2024.
Digital financial services providers will be given an additional time to complete their system adjustment to comply with the requirements of Revenue Regulations (RR) No. 16-2023 and other government agencies, if any, the prescribed transitory period is extended for another ninety days (90) until October 12, 2024.
All electronic marketplace operators shall impose the withholding of tax to sellers/merchants beginning July 15, 2024.