The company gives the new year gift to staff and how about the tax?
Panwa : The company gives annual New Year gifts to staff and sets them as staff welfare regulations. Whether it is given to everyone or only to certain people, it is considered as assessable income of the employees under Section 40 (1). The employer is obliged to withhold income tax at source under Section 50 (1).
Anyways, if you need further assistance for monthly tax filing, half year tax filing and preparing yearly tax, kindly note that we could assist for such click here.
For more information, please feel free to contact us:
Phone: +66 2 933 9000
Fax: +66 2 933 6120