Thursday, March 26, 2020

Creditable Withholding Tax

Creditable Withholding Tax

Withholding agents whether individuals or companies are required to issue a Tax Certificate to the income payees whose taxes are withheld. These certificates are needed as proof of tax payments and become Creditable Withholding Tax that can be deducted from the tax dues of the income payees. 


The withholding agent must issue the tax certificate to the income payee immediately or within the prescribe period.

BIR forms 2316, 2306, 2307 & 2304 can be downloaded from the BIR website and click forms.


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