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Withholding tax for selling and installing machinery

The company’s business is sale with installation of machinery, which on one invoice of client, it states both services. For sale, there is no need to withhold the tax, however for installation services, the client needs to withhold? Panwa: Under the law, if the...

Delay monthly tax filing

​Our company’s current accountant will resign end of this week and we still  cannot find any new staff to replace her and assist us for tax filing. This means that we may have to submit the said taxes as delayed. Please advise.  Panwa: Please note that the withholding...

Withholding tax for bonus

​How do you calculate withholding tax for bonus? Panwa: Please note that Bonus is considered as income derived from employment in according to the Revenue Code. Thus, calculation of the personal withholding tax must include bonus with the other assessable income...