Revenue Memorandum Circular No. 115-2023

The Classification of Costs Associated on Franchises, Concessions, Licenses, Rights, Operations Agreements or Similar Arrangements Granted by the Government to Operate a Public Service, Including Public Utility as an Administrative Cost Instead of "Direct Cost of Services", for Purposes of Computing the Gross Income to Determine the Optional Standard Deduction (OSD) Under Section 34(L) of the Tax Code of 1997, as Amended by Section 3 of Republic Act No. 9504