To : All Tenants of Ortigas Commercial Corporation (OCC)

From : Corporate Finance & Tax

Date : 17 January 2024
Subject : System Generated Certificate of CWT (BIR Form 2307)

Dear Valued Tenants/Lessees,

We are pleased to provide you with a convenient way of complying with the requirement to submit the
Certificate of Creditable Withholding Tax (CWT) to OCC, in relation to the rental payment for mall or office
units/spaces. The form is now system-generated, and it automatically captures the information of both OCC &
Tenants (such as, company name, TIN, address, the nature of transactions subjected to CWT, the amount of
tax base, and the corresponding CWT).

For your guidance, below are some FAQs:

Q: What is CWT BIR Form 2307?

A: It is a Certificate issued by the withholding agent (e.g., tenant) to the entity (e.g., OCC) covering the amounts
that are subject to Expanded Withholding Tax (EWT) (e.g., Rent).

Q: Which tenants are required to withhold the EWT for Rent or file the BIR Form 2307?
A: All tenants are required to deduct the applicable withholding tax from the Rent, regardless of whether or not
they are considered a Top Withholding Agent (TWA).

Q: How do I know if I am a TWA?

A: Kindly refer to BIR website for the list of TWA. (Top Withholding Agents - Bureau of Internal Revenue
(bir.gov.ph))

Q: Apart from Rent, is the tenant also required to withhold from other charges such as CUSA & utilities?
A: Yes, if you are part of the TWA list. Otherwise, not required.

Q: What are the responsibilities of the Tenant as a withholding agent?

A: As a withholding agent, you are required to deduct the applicable withholding tax, file the EWT return, and
remit the taxes withheld to the BIR.

Q: When should the tenant submit the CWT Form to OCC?

A: Per the regulations as to the timing of withholding of tax- The obligation of the payor (tenant) to deduct and
withhold the tax arises at the time an income is paid or payable, whichever comes first. See below sample.

Rental period – January 2023

Timing of Withholding - January 2023
Payment of the rental to OCC – on or before the due date (as indicated in the SOA)
Submission of CWT Form to OCC – on or before the 5th day of the following month

Q: When is the effectivity date of the system generated CWT?

A: The implementation of the system generated CWT is effective 01 December 2023.

Should you have further queries, please communicate with our Billing and Collection representatives.

Thank you.

TENANT’S ACKNOWLEDGEMENT

I hereby read, understood, and will comply to the above.

Company Name/Tenant’s Name Authorized Representative’s printed

Name & Signature/Date