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Latest News Clarification on the Coverage and Taxability of Amusement Places under Section 125(b) of the Tax Code (Revenue Memorandum Circular No. 18-2010)
Latest News Clarification on the Coverage and Taxability of Amusement Places under Section 125(b) of the Tax Code (Revenue Memorandum Circular No. 18-2010)
Clarification on the Coverage and Taxability of Amusement Places under Section 125(b) of the Tax Code (Revenue Memorandum Circular No. 18-2010)
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Mar 09
|10:10 AM
Last Updated on Wednesday, 10 March 2010 08:59
Revenue Memorandum Circular (RMC) No. 19-2010
dated March 1, 2010
The BIR reminds concerned establishments that the proprietors, lessees or operators of videoke bars, karaoke bars, karaoke televisions, karaoke boxes and music lounges, like night and day clubs and cabarets, are deemed also subject to the 18% amusement tax under Section 125 (b) of the Tax Code of 1997, as amended, and not to the 12% VAT on gross receipts.
To read the full text of RMC 19-2010, just click on the following link http://www.bdblaw.com.ph/index.php?option=com_dms&task=show_document&category_id=4&id=274&Itemid=183.
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