BIR requires the employer to withhold taxes from employee’s compensation based on the new train law that took effect at the start of 2018. As a proof of this withholding, employers are required to prepare and release BIR FORM 2316. If you are an employee who has questions about your 2316...
I am a minimum wage earner and my income is not subject to income taxes. Do I still get BIR Form 2316? Yes, you will still get the certificate as it is a document that shows your compensation regardless of whether or not it is subject to income taxes as required by law. Why do I ...
estates and trusts),Form 1902(individuals that are non-resident citizens, resident aliens and employees with a purely compensation-based income),Form 1903(corporations and partnerships), orForm 1904(one-time taxpayers working)
Compensation Income Earners If you are applying for a job, especially for your first one, then you need to do this. However, if you have a previous TIN, then you don’t need to register again. It’s one TIN per person. One TIN ID per person. Documents Needed BIR Form 1902 Valid ID...
For individual taxpayers: NEW BIR Form 1700 If you are earning purely compensation income. NEW BIR Form 1701A If you are a professional or are purely engaged in business (a) subject to graduated tax rates and claiming the Optional Standard Deduction (OSD) as mode of deduction; OR (b) av...
compensation, amortization of intangible assets, lease modification and impairment, change in fair value of contingent consideration, transaction costs, restructuring and other costs and the income tax effect of non-GAAP adjustments. See below for a reconciliation of each non-GAAP financial measure to ...