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    Tenant Advisory: 20 Day of The Month Following The Close of The Taxable Quarter

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    Janet
    This document advises tenants of expanded withholding tax requirements on rental payments in excess of 10,000 pesos used for business. It states that tenants are considered withholding agents who must register with BIR, deduct and remit taxes from rental payments to the landlord, file annual returns, and issue Withholding Tax Certificates. Failure to comply with these requirements can result in penalties and surcharges from BIR.

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    Tenant Advisory: 20 Day of The Month Following The Close of The Taxable Quarter

    Uploaded by

    Janet
    14 views1 page
    This document advises tenants of expanded withholding tax requirements on rental payments in excess of 10,000 pesos used for business. It states that tenants are considered withholding agents who must register with BIR, deduct and remit taxes from rental payments to the landlord, file annual returns, and issue Withholding Tax Certificates. Failure to comply with these requirements can result in penalties and surcharges from BIR.

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    ADVISORY

    Original Title

    EWT 3

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    This document advises tenants of expanded withholding tax requirements on rental payments in excess of 10,000 pesos used for business. It states that tenants are considered withholding agents who must register with BIR, deduct and remit taxes from rental payments to the landlord, file annual returns, and issue Withholding Tax Certificates. Failure to comply with these requirements can result in penalties and surcharges from BIR.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    14 views1 page

    Tenant Advisory: 20 Day of The Month Following The Close of The Taxable Quarter

    Uploaded by

    Janet
    This document advises tenants of expanded withholding tax requirements on rental payments in excess of 10,000 pesos used for business. It states that tenants are considered withholding agents who must register with BIR, deduct and remit taxes from rental payments to the landlord, file annual returns, and issue Withholding Tax Certificates. Failure to comply with these requirements can result in penalties and surcharges from BIR.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    TENANT ADVISORY

    RE : EXPANDED WITHHOLDING TAX ON RENTAL

    In reference to Sections 78 to 83 of the National Internal Revenue Code, this is to


    advise you of the following compliances required from you as a rental paying tenant in
    relation to withholding taxes.

    - Expanded withholding taxes includes, but is not limited to, income payments on
    Rental of real property (in excess of P10,000) used in business
    - A withholding agent is any person or entity who is required to deduct and remit
    the taxes withheld to the government. (in this case, to BIR)
    - The duties of the withholding agent includes, but is not limited to:
    a) to register
    b) to deduct and withhold tax from all money payments subject to withholding
    tax (in this case, on rental payments to ROBINSONS LAND CORP)
    c) to remit the tax withheld at the time prescribed by law (to BIR)
    d) to file annual return
    e) to issue Withholding Tax Certificates to the recipient of the income
    payments,

    - Certificate of Creditable Tax Withheld at Source, BIR Form no. 2307 must be
    issued and submitted to the payee (ROBINSONS LAND CORP) on or before the
    20th day of the month following the close of the taxable quarter.

    Any withholding agent who fails to comply with the above requirements on
    withholding, remitting and filing Annual Return, are subjected to BIR assessment with
    corresponding penalties and surcharges. On the other hand, failure to submit the BIR Form
    2307 to Robinsons Land Corp. on deadline indicated shall also be subjected to penalties
    and surcharges.

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