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Witholding tax

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1Witholding tax Empty Witholding tax Wed Oct 31, 2012 6:37 am

manuelice


Arresto Menor

Hi! just wanna seek for an assistance I was deducted for witholding tax one time. My lasxt pay reflected as 0 for the company took all my earnings to apy for my tax. is this somehow legal?

2Witholding tax Empty Re: Witholding tax Wed Oct 31, 2012 11:57 pm

fierrorj


Arresto Menor

Hi, I was employed last feb 28 to july 2 and that company witheld a tax of the amount 9xxx. My concern is, my current employer gave me two options. First option was to give my BIR form 2316 and the other is I will not submit it and i will be the one to process it next year and so that I wont be deducted a large amount for this year. I was bothered because i will be employed the 6th of november this year and the first pay will be on the 20th and told me that i might be deducted large amount of tax for the company's annualization if i submit my form 2316. From what I knpow, since i have form 2316, my employer witheld a tax for me for the amount said above. If like for instance, my basic was 14500 and we are being taxed once a month, what would be my tax for the month of november and december to consider the following situations above.

Details:
Employment within the year
1. (Former Employer)- February 28-July 2, 2012
2. New Employer- November 6
3. Basic Salary- 14500
4. no other deductions except mandatory deductions like sss, pag-ibi, and philhealth
5. Cut off - 5 and 20 of each month
6. Taxes are bring deducted every other month.

3Witholding tax Empty Re: Witholding tax Thu Nov 01, 2012 3:34 pm

attyLLL


moderator

manuel, first request for an explanation. it's supposed to be deducted monthly, but if not, it is still deductible lump sum.


fierrorj, you are legally required to give your 2316. the tax is higher because your income for the year will be higher compared to your short income from nov-dec. the discrepancy might be seen by the bir.

https://www.facebook.com/BPOEmployeeAdvocate/

4Witholding tax Empty Re: Witholding tax Thu Nov 01, 2012 5:34 pm

fierrorj


Arresto Menor

But since my previous employer withheld a tax for me of P 9552.24 it will not be that higher. right?my friend told me, an accounant, since i have a form 2316, my previous employer witheld a tax for me, and that is right. In this situation, how do i determine how high or compute my tax for the month of nove and dec and with he situation of company's tax annualization?

5Witholding tax Empty Re: Witholding tax Sat Nov 03, 2012 4:55 pm

attyLLL


moderator

the brackets are on the website of the BIR under income tax.

https://www.facebook.com/BPOEmployeeAdvocate/

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