Compensations, Computation and Must Know Exemptions

Almost every entrepreneur knows how to hire good people but not every entrepreneur knows how withholding taxes apply to compensation such employees.

Withholding tax on compensation is a must know of every entrepreneur in order to develop a competitive package for employees and to avoid paying penalties for ignorance.  Should you fail to apply withholding taxes on compensation,  the same shall not be allowed as a deduction for income tax computation until you pay the required withholding taxes PLUS PENALTIES, a one-time 25% surcharge based on amount that should have been withheld, 20% interest per annum, and compromise penalties depending on the amount involved.

Why waste your hard earned income on paying penalties, when you have a lot of opportunities to educate.

Learning Points:

  • Understand how compensation is defined n the Tax Code, as amended;
  • Learn what items of compensation, employee benefits, and other grants to employees are subject to withholding taxes;
  • Learn what items are exempt from withholding tax on compensation (such as de minimis benefits, employer convenience rule, retirement benefits, etc.)
  • Learn how to compute withholding tax on compensation, SSS deductions, Philhealth deductions and, Pag-ibig deductions;
  • Learn how the common compensation packages are being subjected to withholding tax on compensation;
  • Learn how to prepare & file BIR Form No. 1601C monthly, BIR Form No. 1604CF & Alphalist attachment annually and,  BIR Form No. 2316 for employee’s certificates;
  • Learn how fringe benefits to managerial and supervisory are being subjected to tax;
  • Learn how compensation, salaries, wages, employee benefits, and other employee grants are being assessed by BIR;

Schedule: Seminar workshop runs from 9:00 a.m.-5:00 p.m at  Sorosa Building, Buendia Avenue corner F.B. Harrison, Pasay City, Metro Manila. We can also arrange for special group of at least three (3) participants at their own venue.

Package: P2,500 per participant – Handouts/Notes and pencils/BIR Forms/Comprehensive illustrations/ Seminar-Workshop Certificate/ Lunch and snacks – a.m./p.m.. Please bring calculator.

Advocate Tutor: Certified public Accountant (CPA) who has gained much professional experience being in the Tax Division of a law office based in Makati for more than six (6) years now, and as a part-time professor in the College of Accountancy – Polytechnic University of The Philippines, Taguig for about four (4) years now handling basic accounting & taxation subjects.

Reservation: At least P1,000 reservation fee to be deposited to BDO Savings Account (Please refer to the reservation for  account details) & balance on seminar day. Official receipts shall be issued upon full payment on seminar day.(Post viewed 11976 times)

Who should attend?
Highly recommended for Small & medium business owners, new entrepreneurs, accounting graduates, & interested others.

Reserve Now

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