Expanded Withholding Tax Explained

This video explains the important things to know on expanded withholding tax (EWT) in the perspective of a payor and payee with regards to filing, remittance and other compliances.

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References:

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Videos you should watch!

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Time Stamps
Time Stamps:
00:00 Intro
00:16 Definition
00:44 How to Withhold
02:04 Sample Computation
04:08 Filing & Payment
04:51 Outro

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#expandedwithholdingtax #creditablewithholdingtax#ewt #2307 #0619e #filing #remittance

[joyyyy]

This is great! Gulong gulo na ako sa withholding tax(lahat including compensation) kaya hopefully may tutorial din ng QAP. 1st time worjing here as bookkeeper and i keep on asking my boss. Nakakahiya 😅

[mcoico]

Excellent tutorial video once again Sir, thank you for sharing the the other links in your channel as well . Very informative and timely. Kudos to another tutorial taxation video Sir, looking forward for more:)

[valchristian]

Since I am dealing right now with our purchases, I am now making some effort to understand this wihtholding thingy.

[katperdiz]

Thank you po.... i learn so much about tax

[dadpreneuryt]

Kudos Bro... well explained, concise and clear...

[hannahhilarycuaresma]

Hello, I would like to ask if there is a more detailed explanation for the classification of goods vs. services, and what are the measures to classify whether the supplier is a regular one or not.

[mugiwaramugiwarano]

Sir. pwede po itagalog niyo sa next video para madaling maintindihan

[gregorioamano]

How about withholding tax withheld by the payor(client) to the payee(seller) for services sir?

[angeljade]

Questions po, Ano ba dpat ang tamang computation nito.
Situation: Ito ang nang yari ng issue ng Service Billing tapos sa billing naka break down ung services at goods amount doon sa billing so question po.
Paano po ba ang computation nito? 2% for services and 1% for goods or 2% only on net of vat???

[helenaquino]

Sir, thank u for sharing informative topics. I’m newly registered single proprietor as vat. Can I deduct the amt to be paid for the IT specilized as individual in my Income Tax filing. No OR . We have contract agreement for 3 months only. Also how much will I deduct for the P250th( 7% or 8% witholding).
Will I still charge 12% vat?
Thank u so much .

[angeldemonisefajardo]

expanded withholding tax is applicable for business income, is it also applicable to compensation income, Sir?

[maureennavarette]

Sir good day po. I have three questions po. 1. If meron kami supplier na taga ibang bansa ang nature noon is subscription ng server which is not subject to withholding tax (dahil foreigner invoice at wala sa list ng binigay sa RR 11-2018) pero yung mode of payment nya is personal credit card ng partner (reimbursement). Need ba kami nag withhold ng 2% sa credit card company? 2. YUng regular supplier po if last year meron kami more than 6 na transaction sa kanila but for the current year dalawa lang at walang single recipts na 10K consider as regular supplier pa din ba sya for current taxable year? 3. Lahat po ba ng withholding agent need mag-submit ng List of regular supplier or yung TWA's lang? Thank you sir

[ginmar]

Hi Ask ko lang po. sa EWT 1% for supplier of goods. Ano po ba ang tax base ng 1%? Is it the Vatable amount? or the Gross Amount? I hope to hear from you soon. Thanks for sharing.

[jameschannel]

can a government amend 2307? if they would be were wrong in some form in withholding?

[bernardosubido]

SIR, I WOULD LIKE TO ASK IF THE CREDITABLE W.TAX (BIR FORM 2307) CAN BE DEDUCTED TO VAT PAYABLE AFTER DEDUCTING INPUT TAX?

[bernardosubido]

WHAT IS VAT CREDITABLE W. TAX ? IS IT ALSO IN THE FORM 2307. SO THEREFOR CAN ALSO BE DEDUCTED TO VAT PAYABLE?

[madelapales]

I have a question regarding the entry of Vat.. can u help me?☺️


Land rental 95, 000
Vat12%
Expanded tax 5%

My Answer

Land rental 95, 000 dr
Output tax 11, 400 dr
Expnded tax 4, 750 cr
Cash in bank 101, 650 cr

my answer is correct or not?? Thank you

[marymagnayon]

_good day sir what is the differ of exclusve and inclusive that indicated on the contract of lease, is the lessee is require to submit on 0619E about 5% percent or no need?

[johnwilltan]

If the supplier is vat registered is the tax base gross or net of vat?

[mekaniko]

We're renting a small warehouse for P30K a month. Our COR does not include 0619E and also the quarterly filing ang payment of EWT. Can BIR penalize and assess us for not filing and withholding? Are we in obligation to update the COR to include 0619E and EQ?