WORK-AROUND PROCEDURE FOR THE ACCOMPLISHMENT OF BIR FORM NO. 1602-Q

REVENUE MEMORANDUM CIRCULAR (RMC) NO. 92-2025

This Circular outlines the procedures for filing the Quarterly Remittance Return of Final Taxes Withheld on Interest on Deposits and Yield on Deposit Substitutes/Trusts (BIR Form No. 1602Q) through the Electronic Filing and Payment System (eFPS) and Electronic Bureau of Internal Revenue Forms (eBIRForms)following the increase in the final tax rate on foreign-currency deposits from 15% to 20% under Republic Act No. 12214, Capital Markets Efficiency Promotion Act and Revenue Regulations (RR) No. 21-2025.

While the updated BIR Form No. 1602Q is not yet available in the system, taxpayers must temporarily follow the procedures below for filing and remitting the required taxes:

1. Use BIR Form No. 0605 to file and remit the final withholding tax on foreign-currency deposits.
2. Fill out BIR Form No. 0605 and indicate the following details:
   1. ATC: MC200
   2. Tax Type: WB
   3. Manner of Payment: Select “OTHERS” and type “FWT CMEPA.”
3. Click “Validate” after completing the required fields.
4. Pay the corresponding taxes due through the following options:

• For eFPS filers: proceed with the standard eFPS online payment process.
• For eBIRForms filers:
  1. Pay online via Maya (formerly PayMaya), Landbank Electronic Payment Service (LBEPS), or BIR-DBP PayTax Online (BDPTO); or
  2. Pay manually through over-the-counter (OTC) transactions at Authorized Agent Banks (AABs).