BUREAU OF INTERNAL REVENUE

1998 REVENUE REGULATION

1998 BUREAU OF INTERNAL REVENUE

REVENUE REGULATION
RR NO.

SUBJECT MATTER

RR No. 1-98

Redefines the term "Large Taxpayers" amending further RR No. 12-93, as

amended by RR No. 3-94

RR No. 2-98

Prescribes the regulations to implement RA No. 8424 relative to the Withholding

on Income subject to the Expanded Withholding Tax and Final Withholding Tax,
Withholding of Income Tax on Compensation, Withholding of Creditable ValueAdded tax and Other Percentage Taxes

RR No. 3-98

Implements Section 33 of the National Internal Revenue Code (NIRC), as

amended by RA No. 8424, relative to the special treatment of fringe benefits
granted or paid by the employer to employees, except rank and file employees
beginning January 1,1998

RR No. 4-98

Implements the provision of RA No. 6734 relative to the proportionate share of

the provinces comprising the Autonomous Region in Muslim Mindanao (ARMM)
in the national collections from businesses

RR No. 5-98

Implements Section 21 and 23 of RA No. 8479 relative to the payment made by

certain oil companies of their respective specific taxes through Reimbursement
Certificates" issued by the Department of Energy

RR No. 6-98

Amends Section 2 of RR No. 4-97 by providing for the recognition of checks as

one of the acceptable modes of payment

RR No. 7-98

Implements Section 230 of the NIRC, as amended by RA No. 8242 relative to

the treatment of cash refunds and of Tax Credits

RR No. 8-98
Amends pertinent portions of RR Nos. 11-96 to 2-98 relative to the tax treatment
of the sale, transfer or exchange of real property
RR No. 9-98

Prescribes the regulations to implement RA No. 8424 relative to imposition of

the Minimum Corporate Income Tax on domestic corporations and resident
foreign corporations

RR N. 10-98

Prescribes the regulations to implement RA No. 8424 relative to the imposition

of income taxes on income derived under Foreign Currency Deposit and
Offshore Banking Systems

RR No. 11-98

Amends further RR No. 5-98 which implements Section 21 of RA No. 8479

entitled "An Act Deregulating the Downstream Oil Industry, and For Other
Purposes

RR No. 12-98

Amends RR No. 2-98 relative to the collection of the credible withholding tax on
income payments from medical practitioners

RR No. 13-98

Prescribes the regulations to implement RA No. 8424 entitled "An Act Amending
the National Internal Revenue Code as amended"

DATE OF ISSUE
April 14, 1998

May 17, 1998

June 4, 1998

June 29, 1998

July 1, 1998

July 20, 1998

August 20, 1998

September 2, 1998

September 2, 1998

September 2, 1998

September 24, 1998

September 25, 1998

December 14, 1998