The Philippines tax agency, Bureau of Internal Revenue, issued Revenue Regulations No. 1-2014 which requires the electronic submission of the alphabetical list of payees of income payments as attachment to tax returns filed online. With the Withholding Tax SuiteApp, you can generate the Quarterly A...
The following withholding tax codes and their associated tax type (WE) for the Philippines are provided upon installation of the Withholding Tax SuiteApp. These tax codes are used for generating the BIR Form 1601–EQ and Form 2307 (Certificate of Creditable Tax Withheld at Source). You can ina...
The Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (the MLI) was ratified and entered into force for Singapore on 1 April 2019. Amendments made by the MLI to these treaties have taken effect....
In certain countries, such as Brazil, the Philippines, and Spain, withholding tax can or must be posted when the invoice is posted. This means that the amount receivable or payable is reduced by the withholding tax amount. Extended withholding tax supports both concepts. The key concept in ext...
Vietnam’s foreign contractor tax (FCT), often referred to as the withholding tax, is a tax that is applied to transactions conducted in Vietnam between a foreign company or sub-contractor and a Vietnamese company. It is made up of two kinds of taxes. These are the value added tax (...
Setting up Philippines-specific Features and Preferences Philippines Tax Topics Philippines Tax Codes Accounting for Value Added Tax (VAT) - Philippines VAT Reports - Philippines Accounting for Creditable Withholding Tax - Philippines Setting Up Withholding Tax - Philippines Creating Withholding Tax Types -...