Withholding tax, in a nutshell, is the income tax liability deducted by the withholding agent from every working person’s salary. Taxpayers pay their income tax annually using BIR Form 1701 or quarterly using BIR Form 1701Q. When it comes to withholding tax, they don’t have to wait until...
For final withholding taxes, the BIR Form 2306 should be given to the payee on or before Jan. The new annual information returns According to the FBR letter, withholding tax imposed on category 'A' licences has been increased from Rs10,000 per annum to Rs100,000). THE EXPRESS TRIBUNE >...
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BIR TIGHTENS WITHHOLDING TAX RULE ON AGRICULTURE PURCHASESSamonte, Angelo S
On the Tools menu, point to Setup, point to Company, and then select Company. In the Company Setup window, select Options. In the Company Setup Options window, enter information in the following fields: Withholding Vendor ID Withholding File/Reconciliation Number Withholding Tax Rate Select OK....
BIR Ruling Excluding Long-Term IOUs from 20% Withholding Tax LaudedThe Money Market Association of the Philippines (MART) welcomed the new ruling of the Bureau of...Sionil, Fil C
The Manila Electric Company (Meralco) is still awaiting implementing guidelines from the Bureau of Internal Revenue (BIR) on mandate for it to withhold a 25 percent creditable income tax on refunds to its commercial and industrial customers; and 32 percent for those which are already terminated ...