RCL - Annualized Withholding Tax

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Step 4 -Deduct the amount of premium payment onHealth and/or Hospitalization Insurance ofemployees who have presented evidence thatthey have paid the same during the taxableNote:The deductible amount shall not exceedP2,400/annum or P200/month whicheveris lower and total family gross incomedoes not exceed P 250,000 for the calendaryear
Annualized Withholding TaxStep 5-Compute the amount of tax on thedifference arrived at in Step 4.Over But not Over Amount Rate of Excess Overnot over 10,000 5%10,000 30,000 500 + 10% 10,00030,000 70,000 2,500 + 15% 30,00070,000 140,000 8,500 + 20% 70,000140,000 250,000 22,500 + 25% 140,000250,000 500,000 50,000 + 30% 250,000500,000 over 125,000 + 32% 500,000
Page 1 and 2: OUTLINE OF PRESENTATIONPART I:PART
Page 3 and 4: Definition of terms________________
Page 5 and 6: RULES ON THE INCOME TAX EXEMPTION__
Page 7 and 8: PERSONAL AND ADDITIONALEXEMPTIONS U
Page 9 and 10: SUBMISSION OF LIST OF MWEs RECEIVIN
Page 11 and 12: Definition of De Minimis Benefits:T
Page 13 and 14: NOT TAXABLE -(De Minimis Benefits)f
Page 15 and 16: TAXABLE AND NOT TAXABLE COMPENSATIO
Page 17 and 18: Taxation of Fringe Benefits17
Page 19 and 20: TAXABLEFringe Benefits granted/furn
Page 21 and 22: PART 2Withholding Tax onCompensatio
Page 23: Step 3- Deduct from the aggregate a
Page 27 and 28: Format - Annualized Withholding Tax
Page 29 and 30: Sample Computations on the use of t
Page 31 and 32: Annual Information Returns (BIR For
Page 33 and 34: Individual qualified for substitute
Page 35 and 36: Employees Withholding StatementsWha
Page 37: ENDOFPRESENTATIONTHANK YOU

RCL - Annualized Withholding Tax

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