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    FWT

    Uploaded by

    Dazzle Duterte
    Final Withholding Tax

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    © All Rights Reserved
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    FWT

    Uploaded by

    Dazzle Duterte
    39 views1 page
    Final Withholding Tax

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    © © All Rights Reserved

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    DOC, PDF, TXT or read online from Scribd

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    Final Withholding Tax

    Copyright:

    © All Rights Reserved
    Download as DOC, PDF, TXT or read online from Scribd
    Download as doc, pdf, or txt
    39 views1 page

    FWT

    Uploaded by

    Dazzle Duterte
    Final Withholding Tax

    Copyright:

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

    FWT CWT

    a) The amount of income tax withheld by the a) Taxes withheld on certain income payments are
    withholding agent is constituted as a full and final intended to equal or at least approximate the tax due of
    payment of the income tax due from the payee on the payee on said income.
    the said income.

    b)The liability for payment of the tax rests primarily b) Payee of income is required to report the income
    on the payor as a withholding agent. and/or pay the difference between the tax withheld and
    the tax due on the income. The payee also has the right
    to ask for a refund if the tax withheld is more than the
    tax due.

    c) The payee is not required to file an income tax c) The income recipient is still required to file an income
    return for the particular income.73 tax return, as prescribed in Sec. 51 and Sec. 52 of the
    NIRC, as amended.74

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