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WITHHOLDING TAX ON GOVERNMENT MONEY PAYMENTS Presented by: Susan D. Tusoy , CPA, MPS Asst. Chief, Assessment Division

WITHHOLDING TAX ON GOVERNMENT MONEY PAYMENTS Presented by: Susan D. Tusoy , CPA, MPS Asst. Chief, Assessment Division. Final Withholding VAT on Government Purchases. RA 9337.

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WITHHOLDING TAX ON GOVERNMENT MONEY PAYMENTS Presented by: Susan D. Tusoy , CPA, MPS Asst. Chief, Assessment Division

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  1. WITHHOLDING TAX ON GOVERNMENT MONEY PAYMENTS Presented by: Susan D. Tusoy, CPA, MPS Asst. Chief, Assessment Division

  2. Final Withholding VAT on Government Purchases RA 9337 Payments by the government or any of its political subdivisions, instrumentalities or agencies, including government-owned and controlled corporations (GOCCs) on account of its purchase of goods and services who are subject to VAT 5% Final VAT

  3. I. WITHHOLD TAXES

  4. II. WITHHOLING TAX REMITTANCE

  5. III. WITHHOLDING TAX CERTIFICATES

  6. IV. ANNUAL RETURNS

  7. ON MANDATORY ATTACHMENTS RR No. 2-2006

  8. REVENUE REGULATIONS NO. 2-2006 Mandatory Attachments : Summary Alphalist of Withholding Agents of Income Payments Subjected to Tax Withheld at Source (SAWT) to Tax Returns With Claimed Tax Credits due to Creditable Tax Withheld At Source

  9. REVENUE REGULATIONS NO. 2-2006 2. Monthly Alphalist of Payees (MAP) Whose Income Received Have Been Subjected to Withholding Tax in the Withholding Tax Remittance Return Filed by the Withholding Agent/Payor of Income Payments

  10. Monthly Alphalist of Payees(MAP) • is aconsolidated alphalistof income earners from whom taxes have been withheldby the payor of income for a given return period and in whose behalf, the taxes were remitted. • It contains a summary of information on taxes withheld and remitted through the monthly remittance returns (BIR Form Nos. 1601-E, 1601-F, 1600) showing , among others, • total amounts of income/gross sales/gross receipts and • taxes withheld and remitted.

  11. SAWT/MAP Below 10 payees - hard copy 10 or more payees - softcopy (diskette, CD etc.) EFPS regardless of the - e-attach number of income payees/ income recipient

  12. Illustration A local government unit purchased the following goods and services for the month of November 2013. Invoice Price • Fertilizers - P56,000.00 • Construction Materials - 44,800.00 • Repair of Aircon Units - 22,400.00 • Rental of equipments - 33,600.00 Compute for the withholding tax on government money payments assuming the seller is: a) Non-VAT registered b) VAT taxpayer

  13. Answer – Non VAT Supplier

  14. Answer – VAT Supplier

  15. The usefulness of the cup is its emptiness. -Bruce Lee

  16. THE END

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