First and foremost, let’s address the elephant in the room:tax evasion. While it may seem like a quick fix to avoid paying taxes, the consequences can be severe. Not only does it undermine the integrity of our tax system, but it also carries hefty penalties and legal repercussions. Imagi...
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...
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 get a tax refund if I resign from my job during the year? While you are employed, your withholding tax is...