Philippines (Last reviewed 01 August 2024) Resident: 0 / 10, 15, or 20 / 20;Non-resident: 15 or 25 / 20 / 25 Poland (Last reviewed 22 July 2024) Resident: 19 / NA / NA;Non-resident: 19 / 20 / 20 Portugal (Last reviewed 21 July 2024) Resident: 25 / 25 / 25;Non-resident...
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....
Payments to non-resident contractors for service contracts are subject to a13% withholding tax, but this isnot a final tax. Non-resident contractors can offset this tax against their final tax liability. Are distributions by Real Estate Investment Trusts (REITs) and Property Trust Funds (PTFs) ...
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...
On installation, the Withholding Tax SuiteApp automatically creates a withholding tax type to support Philippines expanded or creditable withholding taxes plus the related creditable withholding tax codes. The SuiteApp does not automatically provide a withholding tax type to support final withholding tax,...
Expanded withholding tax is to be paid by the withholding agent, and should contain the accumulation of all the monthly funds taken from the tax payer’s income. Whether you use atax calculator in the Philippinesor not, these are all the new things you should know about Expanded Withholding ...
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 (...
In early July 2024, the GDT sent an official letter to local tax departments announcing the effective date of the Multilateral Convention on Mutual Administrative Assistance in Tax Matters (MAAC agreement) with Vietnam is 1 December 2023. The implementation date to support information exchange for ...
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 documentation requirement for the substantive ownership shall apply to application for a reduced tax treaty rate on or after 1 January 2023. If such application is not provided or a substantive owner of Korean-source income cannot be identified in the submitted documents, the withholding agent ...