Below are the Income Payments from the Government that are Subject to Withholding of 5% to 12% VAT and 3% Percentage Tax. Below are the Income Payments on Interest Paid to Bank Deposits, Amount withdrawn on Decedent’s Deposit Account, etc.ĭ. Below are the Income Payments to Corporation that are Subject to Final Withholding Tax.Ĭ. Below are the Income Payments to Individuals that are Subject to Final Withholding Tax (FWT).ī. 1602Q is usually use by the Banks.īIR Form 1603Q is use by Companies who give Fringe Benefits to its Employees other than Rank and File.Ī. 1600 is usually use by the Government to Withhold Final Withholding VAT to their supplier.īIR Form No. Compromise Penalty P1,000 – 25,000 every time you fail to withholdĬommonly use BIR Form here are the 0619F, 1601FQ, and 1604CF.īIR Form No. 12% annual interest based on tax unpaidĬ. If the withholding agent fails to withhold Final Withholding Tax, he/she will need to pay penalties amounting to:ī. What will happen if the Withholding Agent fails to Withhold Taxes?

This includes but not limited to Dividends, Distributive Share in Taxable Partnership, Royalties, and Prizes.ģ. You will be a Withholding Agent only if your payment is included in the list of Income Payments subject to Final Withholding Tax. Once an income is subjected to Final Tax, it will not be furthered taxed under the Income Tax and/or capital gains tax. It is not creditable against the Income Tax due of the Payee or Receiver of the Income. 2306)įinal Tax is a kind of withholding tax which is prescribed on certain income payments. What is the Certificate of Final Tax Withheld at Source (BIR Form No.

What is the Quarterly Alphalist of Payees (QAP)?ĩ. What are the Attachments required in filing BIR Form No. Where to File and Pay Final Withholding Tax?ħ. What are the Income Payments and Tax Rate subject to Final Withholding Tax?Ħ. What and When to File and Pay Final Withholding Tax?ĥ. What will happen if the Withholding Agent fails to Withhold Final Taxes?Ĥ. Who are required to File and Pay Final Withholding Tax?ģ. You should read this if you are the owner or accountant of a corporation, partnership and/or you transact to the government.Ģ. Here is a tax calendar we’ve prepared to remind you of the upcoming BIR deadlines for the month of October 2019.This article is all about Final Withholding Tax under TRAIN Law that took effect on January 1, 2018. Minding your business’ tax obligations is as important as your day-to-day operations.

Bir alphalist 2019