What are Withholding Taxes | ANO ANG WITHHOLDING TAX NG BIR

The tax withholding system is a system of collecting taxes at the source. This video talks about what is withholding tax, kinds of withholding taxes such as expanded withholding tax and final withholding tax. This is connected to taxpayers classified as pure-compensation income earners, business income earners or mixed income earners.

This video talks about:
- how to calculate withholding tax
- tax withholding explained
- tax withholding explained 2024

📚IMPORTANCE OF WITHHOLDING TAX SYSTEM
- It encourages voluntary compliance;
- It reduces cost of collection effort;
- It prevents delinquencies and revenue loss; and
- It prevents dry spell in the fiscal conditions of the government by providing revenues throughout the taxable year.

📚PERSONS REQUIRED TO WITHHOLD WITHHOLDING TAXES
- Individuals engaged in business or practiced of profession
- Non-individuals (corporations, associations, partnertship, cooperatives) whether engaged in business or not
- Government agencies and its instrumentalities (National Government Agentcies (NGAs), Government-owned or Controlled Corporations (GOCCs), Local Government Units including Baranggays (LGUs

📚 A WITHHOLDING AGENT - is any person or entity who is in control of the payment subject to withholding tax and therefore is required to deduct and remit taxes withheld to the government.

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🔗 Videos to Watch!!

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⌚️ Time Stamps:
00:00​ Intro
00:15 What is Withholding Tax
01:07 Kinds of Withholding Tax
02:01​​ Compensation or Wages
02:47 Substituted Filing
03:55 Expanded Withholding Tax
04:36 Final Withholding Tax
05:43 Outro

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📱Social Media:
Tiktok/taxtutsph

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Disclaimer:
This video is mainly for academic purposes and is not a substitute in doing your due diligence. For highly technical tax issues, you are advised to seek professional assistance or contact BIR for proper tax compliance.

[alvindavealejo]

Mas maiintindihan to kung tagalog kasi binabasa mo lang din yun kung anu nakasulat sana may kaunting explanation.

[krizpearl]

Hi po sir ask ko lang ilan % ang rate sa expanded withholding tax for transfering the property from filinvest to buyer

[rackdel]

Hi @Gerard Carpizo, can you help on this scenario?

Company A is leasing the property of Proprietor B.
Company A is deducting (withheld) 12% from the lease amount monthly from Proprietor B.
Proprietor B's income is less than 3 million a year.

Questions:
After deduction of 12% VAT, will Proprietor B be needing to file 3% Percentage tax?

[Bongzhd]

Hi sir Gerard papano po pag ung payroll namin mali ung dinededuct na withholding tax sa salary namin.
and after a year saka lang nila na discover na mali pa ung computation then gusto nila icharge sa mga employee nila lahat nang maling computation.
Liable din ba si company sa malpractice nila sa pag compute nang taxes nang mga employees.

[lyle]

Sir, paano po yung CWT 42k ko Form 2307 pang December sya sa attachment sa FS & 1701 Annual pero na SAWT ko sya sa October yung Dat file send nagkamali ako.. paano yun? magbigay ang BIR ng NOA saakin?

[NetteMacdon]

Sir, di po nagwithhold ng EWT yong lessee from rental paid sa lessor last 2023. Ngayon po ay nirequire nila
and lessor na reimburse yong EWT due since September 2023. Pwede po ba nila pilitin
ang lessor na ibalik sa kanila yong EWT due? salamat po.

[zwusrtl]

Sir, for hotel charges composed of Accommodation (subj to vat) + service charges + local tax, how much should be considered as wht?

[jamesortega]

hello po, dun sa ebir forms 1701A meron tax credits tab for tax withheld. nakalagay sa dulo ng title na "attach proof". does it mean i need to attach proof that tax was withheld from my income? if yes paano i attch po yun proof sa ebirforms parang wala akong makitang button to upload files

[mightyosilleva]

Good day Sir ask ko lng po if the honorarium is taxable?thank you!

[venagenroja]

Sir PA HELP PO PLEASE. I would like to ask. How can we check all the tax contributions from recent employers? I was curious to my recent one, kasi I am employed before in an agency, then the company I worked before was overseas, I am doubtful of the salary the agency declared, I wanted to confirm sana with checking it with the list of contributions I had with that company. SANA MATULUNGAN PO NINYO AKO SIR.

[maryrose]

Hello sir! Ask ko lang po paano po kung hindi po na withheld and hindi po na issuehan po ng form 2307 last sept. ang isang supplier po. Ano po gagawin sa pag remit po ng tax? Badly need help po.Thank you po sir!

[RonelMarasigan-fuwz]

Sir ask ko lang Po ano Po ang rate Ng with holding tax Ng independent contractor no employee/ employer relation ship as Real Estate Agent for Commision base and allowance 5% Po ba or 10%? Vat Po Ako and Income tax Po ang tax type ko sa Certificate of Registration sa BIRS Thank you sir sana Po matulongan nyo Ako .

[PinoyAbroader]

Sir Gerardo, thanks for your video nakatulong ng sobra saken, ask ko po sana kung makukuha ko pa itong withholding tax na deducted sa sahod ko? Monthly po kasi may P4, 700 ako with holding tax deductions. Employed po ako from Jan 15, 2023 to September 15, 2023.

Makukuha ko pa po ba sa BIR yung ibinawas na with holding tax?

Sana po masagot ninyo Sir Gerardo.

[erickmanangan]

Sir makukuha ko din ba yun tax ko sa dulo pag nag resign ako?

[EGGplanter]

Hi sir. I sent you a PM on Facebook. Can we invite you as speaker?