Employee’s Withholding and Fringe Benefits Tax
About the Seminar
In the operation of withholding tax system on compensation, the withholding agent is the employer. Fringe Benefits Tax is also imposed on the fringe benefit furnished, granted or paid by the employer to the employee, except rank and file employees. The BIR requires the employer as withholding agent to remit the proper withholding taxes on compensation or fringe benefits; otherwise, deficiency taxes and penalties may arise.
De Minimis Benefits are included so that the taxpayer will know the tax exempt benefits of the employees.
Knowledge of the tax laws, rules and regulations on the taxation of employee’s compensation and fringe benefits are significant so that the company may balance its role as an employer and as withholding agent.
• To know the procedure in employee’s registration and updates with the BIR
• To know the component or composition of Gross Compensation
• To learn about the De Minimis Benefits
• To know the Personal Exemptions of Employees
• To know the rules of Fringe Benefits Tax
• To know the manner, procedure and filing of tax returns and information with regards to Withholding tax on wages and Fringe Benefits Tax
Who Should Participate
• Business Owners (Single Proprietor or Stockholders)
• Business Managers and other employees in charge of the Payroll
• Accountants (Whether employee or practitioner)
• Others who want to know about Withholding Tax on Wages and Fringe Benefits Tax
I. Taxation of employees
II. Registration Process of Employee
a. Securing TIN
b. Place of Filing
III. Registration Updates
IV. Gross Compensation
a. Compensation Income
b. Fixed or Variable Allowances
c. Substantiation Requirements
d. Pre-computed allowances
f. Stock Options
h. Exclusion from Gross Income
V. De Minimis Benefits
a. General Rule
b. Types of De Minimis Benefits
c. General Rules on the grant of De Minimis Benefits
d. Benefits previously considered as De Minimis Benefits
e. Maternity Benefits
f. Rule on Taxation of De Minimis Benefits
VI. Personal and Additional Exemptions
a. Qualified Dependent
b. Rules on claiming additional exemption
c. Waiver of Right
d. Foster Child
e. Premium Payments
f. Change of Status
VII. Person responsible to withhold
a. Obligation of Employer
VIII. Time of Withholding
IX. Calculating Withholding Tax
X. Annualization of Withholding tax on Employees
XI. BIR Form 1601C
XII. BIR Form 1604CF
XIII. BIR Form 2316
XIV. Withholding Tax Violations
XV. Fringe Benefits Tax
a. Managerial/Supervisory vs. Rank and File Employees
b. FBT Rate
c. FBT Base
e. Non-taxable fringe benefits
f. Rules on valuation of fringe benefits
g. Specific Rules on Valuation
• Housing Privilege
• Motor Vehicle
• Foreign Travel
• Expense Account
• Educational Assistance
• Life or health insurance and other non-life insurance premiums
• Other benefits
h. Filing of FBT return
Schedule: Click to view BusinessCoach Seminar Schedule
9:00 am – 4:00 pm
Php 3,000.00 per person (inclusive of snacks, lunch, seminar kit, handouts, certificate of attendance)
10% Discount if FULL AMOUNT is paid at least five (5) banking days before the event.
Please call to register, or you may download our registration form. Kindly fill-out, and send to us through fax (727.88.60) or email. You will receive a confirmation within 48 hours.
Mode of Payment
- Deposit payment at Banco de Oro, Savings Account Name: BusinessCoach, Inc. Then kindly fax deposit slip (indicate name of participant and seminar title) to confirm reservation.
- On-site payment (CASH only)
- Company checks are accepted, provided that they are received at least five (5) banking days before the event.
Cancellation by Attendee
Registrant may refund amount paid, with less 30% processing charge from the LISTED AMOUNT within 30 days, or opt to use the payment for a seminar of equal value within 60 days. Cancellation must be done at least 2 days before the event. Non-appearance or failure to inform us of cancellation will result to forfeiture of full amount paid.
Cancellation by BusinessCoach, Inc.
Registrant may refund full amount paid within 30 days, or may opt to use the payment for a seminar of equal value within sixty days of cancellation.
Payment may be refunded upon presentation of the original copy of bank deposit slip and a valid ID. Cash refund is strictly implemented, and may be availed only at the BusinessCoach, Inc. office in San Juan City, Metro Manila. BusinessCoach, Inc. does not deposit refunds.
Schedule may change without prior notice. Please call to confirm. BusinessCoach, Inc. is not liable for any expense incurred by seminar registrant resulting from cancellation of any of our events.
Please call (632) 727.56.28, (632) 225.66.16, or (632) 727.88.60
or call/text mobile numbers 0915.205.0133 / 0908.342.3162 / 0926.622.0768 / 0933.584.7266
For other inquiries, you may also leave a message in our contact form.