Compliance with tax regulations is a critical responsibility for businesses operating in the Philippines, particularly concerning employee payroll and taxation. Among the many requirements set forth by the Bureau of Internal Revenue (BIR),BIR Form 2316and the process of employerannualizationstand out as...
only the salary differential (i.e., the net amount of benefit after deducting the SSS reimbursable amount from the total maternity benefit due to the employee) should be included as nontaxable income. Salary differentials are also accounted for as part of actual ...