Withholding taxes, subjects & application:Seminar
Section 34(K) of the Tax Code,as amended, in effect provides that if an expense (income payments to others) is subject to withholding tax, it shall have been subjected to withholding tax in order to be deductible for income tax purposes.
The obligation imposed above is so simple, but most entrepreneurs could not apply very well. BIR assessment is a simple comparison of amounts in the financial statements and in the tax returns filed. As a result, they are being assessed not only for the amount that should have been withheld, but also for income tax deficiencies due to disallowed expenses, and PENALTIES for both non-withholding and income tax deficiencies. Take this opportunity to learn how the withholding tax obligation be complied with, the risks for non-compliance, and the related BIR forms that you should prepare and file.
Learning points:
- Learn the nature and purpose of withholding taxes (expanded & final withholding taxes);
- Learn your obligations as withholding agent, when applicable and the risks for non-compliance;
- Learn what income payments are subject to withholding taxes and the corresponding rates (e.g.,
- Learn the requirements and implications of top 20,000 corporations, payments to non-resident entities, and transactions with the government;
- Learn accounting treatment and entries of withholding taxes;
- Learn how to prepare and file related BIR Forms and reports – monthly, quarterly, and annually.
- Learn how BIR makes an assessment on withholding taxes.
Schedule: Seminar runs from 9:00 a.m.-5:00 p.m on schedules provided (PLEASE CLICK HERE FOR SCHEDULES) at Sorosa Building, Senator Gil Puyat Avenue (also known as Buendia Avenue) corner F.B. Harrisson, Pasay City, Metro Manila. We can also arrange for special group of at least three (3) participants at their own venue.
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