Employee's Withholding Tax


Employee’s Withholding Tax


Speaker: Atty. Nelson S. Gargoles, CPA 

Founder, Gargoles Law Office

Business Coach and Tax Consultant


Tuesday, August 04, 2020

3:00 PM – 5:30 PM PHT

Tuesday, August 04, 2020

3:00 AM – 5:30 AM EDT

Tuesday, August 04, 2020

8:00 AM – 10:30 AM BST

Tuesday, August 04, 2020

5:00 PM – 7:30 PM AEST


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Introductory Ticket Price: ₱ 3,299 + VAT / Participant

 

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(Pay on or before July 21, 2020)




Bayanihan Rate: ₱ 1,299 + VAT / Participant

 


LEARNING INVESTMENT INCLUDES:


Enjoy a “Fun-filled” e-Learning experience, complete with online session materials

and e-certificate of attendance after online course completion.


PAYMENT METHOD

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Webinar Description:


In the operation of withholding tax system on compensation, the withholding agent is the employer.  The BIR requires the employer as withholding agent to remit the proper withholding taxes on compensation otherwise, deficiency taxes and penalties may arise.


Exclusions from gross income and De Minimis Benefits are included so that the taxpayer will know the tax-exempt benefits of the employees.  


Knowledge of the tax laws, rules and regulations on the taxation of employee’s compensation are significant so that the company may balance its role as an employer and as withholding agent.

Webinar Objectives:


The specific objectives of this unique fun-filled online learning experience are:

  • To know the procedure in employee’s registration and updates with the BIR
  • To know the component or composition of Gross Compensation
  • To learn about the De Minimis Benefits
  • To know the tax compliance on Employee’s Withholding

Who Should Attend?

  • Business Owners (Single Proprietor or Stockholders)
  • Business Managers and other employees in charge of the Payroll
  • Accountants (Whether employee or practitioner)
  • Others who want to know about Withholding Tax on Wages and Fringe Benefits Tax

Webinar Outline:



Session 1: Taxation of Employees



Session 2: Registration Process of Employee

  • Securing TIN
  • Place of Filing

Session 3: Registration Updates


Session 4: Gross Compensation

  • Compensation Income
  • Fixed or Variable Allowances
  • Substantiation Requirements
  • Pre-computed allowances
  • Tips
  • Backwages
  • Exclusion from Gross Income

Session 5: De Minimis Benefits

  • General Rule
  • Types of De Minimis Benefits
  • General Rules on the grant of De Minimis Benefits
  • Benefits previously considered as De Minimis Benefits
  • Maternity Benefits
  • Rule on Taxation of De Minimis Benefits

Session 6: Person Responsible to Withhold

  • Obligation of Employer

Session 7: Time of Withholding


Session 8: Calculating Withholding Tax


Session 9: Annualization of Withholding Tax on Employees


Session 10: BIR Form 1601C


Session 11: BIR Form 1604C


Session 12: BIR Form 2316



Session 13: Withholding Tax Violations

Claiming eCertificates


An eCertificate of Attendance will be awarded to participants who successfully completed the entire Virtual MasterClass.


Survey Online Questionnaire will be emailed after the e-Learning Event for participants to give feedback.


An eCertificate of Achievement will be emailed to the registered email address of the participants upon completion of the online Feedback Form.


Please ensure email address provided during registration is accurate or eCertificates may not be received.


Online Certificates will be available 3-5 days after the e-Learning Event.



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