BIR Discovers Huge Uncollected Withholding TaxesManila Bulletin
Provide Employee Training:Educate employees about the components of their compensation and taxes to promote transparency and reduce queries. Partner with Compliance Experts:Engage professional payroll and tax consultants to ensure compliance with BIR regulations and avoid penalties. Updates Under the TRAIN L...
accompanied by paying the relevant penalties as dictated by BIR rules and regulations. The minimum compromise penalty for failure to file is set at P1,000, subject to increase based on the gross sales, earnings, or receipts declared in the returns. Awareness of the returns...
Yes, the COR must be prominently displayed at the business’s principal place of operation. This requirement ensures transparency and allows the public to verify the business’s compliance with tax regulations. Penalties for Not Having a COR Failure to obtain a COR or comply with BIR registration...
BIR Warns Companies Not Remitting Withholding Taxes
collected from unit owners are not subject to income tax and withholding tax (Dela Pena, 2014).Nevertheless, the Bureau of Internal Revenue (BIR) insisted on collecting taxes on condominium association dues on the ground that the tax court's decision did not touch Revenue Memorandum Circular No...