Important Advisory: New Requirements from BIR

Dear BPI BizKo Client,

Starting 14 July 2024, subject to future changes or clarifications by the BIR, BPI BizKo, as a digital financial service provider, will implement the new requirement of the Bureau of Internal Revenue (BIR) on withholding tax on remittances to merchants for goods and services sold or paid through digital financial service platform. Pursuant to BIR Revenue Regulation No. 16-2023 and Revenue Memorandum Circular No. 08-2024, we would like to request a copy of the following documents:

1. Digital Copy of BIR Certificate of Registration (BIR Form No. 2303). RMC 8-24 mandates that BIR Form No. 2303 is submitted prior to allowing sellers/merchants to use the BPI digital platforms;

2. Digital Copy of the Sworn Declaration of Gross Remittances (use BIR prescribed template, see Annex “A” of RMC 8-24) duly received by the BIR (if cumulative gross remittances to an online seller/merchant in a taxable year has not yet exceeded P500,000); and

3. Digital Copy of BIR certification or ruling or any other document as proof of entitlement to tax exemption or preferential tax treatment (if seller/merchant is claiming tax exemption or preferential tax treatment).

Kindly submit the required documents via email to bizkocomms@bpi.com.ph. For questions or clarifications, you can visit BPI BizKo’s Help Center, chat with us when you sign in to your BizKo account, or get in touch with your nearest BPI branch.

Very truly yours,

BPI BizKo