BIR Form 2316, also known as theCertificate of Compensation Payment/Tax Withheld, is a document issued by employers to their employees annually. This form is evidence of the employee’s income and the corresponding taxes withheld by the employer during the calendar year. It is a critical documen...
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...
In Taxumo, you can actually file and pay for missed filings and open cases a year prior to the current year. Having anactive subscription in Taxumowill allow you to file all of these (don’t require a processing fee for each form). The Importance of Closing Open Cases Proactively monitor...
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 ...