Tax Deficiencies - Revision history

Rsmoralejo at 02:22, 17 February 2011

2011-02-17T02:22:48Z

← Older revision		Revision as of 10:22, 17 February 2011
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	[[Category:UPD Memo]][[Category:Administrative Matters]]		[[Category:UPD Memo]][[Category:Administrative Matters]][[Category:OVCA Memo]][[Category:Memo]]

Iskwiki.admin at 15:56, 26 March 2009

2009-03-26T15:56:32Z

← Older revision		Revision as of 23:56, 26 March 2009
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	While the Accounting Office has been implementing the above-mentioned Revenue Regulation, there are unexpected variables that affect the tax liability of employees during the year. These variables, incluidng incomes from honoraria, overtime/ overload pay, incentive allowance, salary increases, etc, may only be known towards the end of the year. Furthermore, payrolls are made one month in advance. There are also some delays in the submission of dependents or status of employees that affect the tax brackets and the tax liability of an employee (BIR form 2305). hence, during summarization of income after yearend, there are employees who have tax deficiencies as reflected in the Statement (Tentative Computation of Income for Taxable Year 2007) issued by the Accounting office.		While the Accounting Office has been implementing the above-mentioned Revenue Regulation, there are unexpected variables that affect the tax liability of employees during the year. These variables, incluidng incomes from honoraria, overtime/ overload pay, incentive allowance, salary increases, etc, may only be known towards the end of the year. Furthermore, payrolls are made one month in advance. There are also some delays in the submission of dependents or status of employees that affect the tax brackets and the tax liability of an employee (BIR form 2305). hence, during summarization of income after yearend, there are employees who have tax deficiencies as reflected in the Statement (Tentative Computation of Income for Taxable Year 2007) issued by the Accounting office.

	Settlement of tax deficiency no longer necessitates filing pursuant to the ~~Substitute4d~~ Filing of Income Tax Return under BIR Revenue Regulation No. 19-2002. ~~employees~~ therefore are advised to settle any tax deficiency not later than 15 April 2008.		Settlement of tax deficiency no longer necessitates filing pursuant to the Substituted Filing of Income Tax Return under BIR Revenue Regulation No. 19-2002. Employees therefore are advised to settle any tax deficiency not later than 15 April 2008.

	Rest assured that appropriate measures shall be made to avoid or minimize similar incidents in the future.		Rest assured that appropriate measures shall be made to avoid or minimize similar incidents in the future.

Iskwiki.admin at 12:04, 13 March 2009

2009-03-13T12:04:08Z

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	Mary Delia G. Tomacruz		Mary Delia G. Tomacruz<br>
	Vice Chancellor for Administration		Vice Chancellor for Administration

Iskwiki.admin at 07:57, 25 February 2009

2009-02-25T07:57:13Z

← Older revision		Revision as of 15:57, 25 February 2009
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	Mary Delia G. Tomacruz		Mary Delia G. Tomacruz
	Vice Chancellor for Administration		Vice Chancellor for Administration




			[[Category:UPD Memo]][[Category:Administrative Matters]]

Rsmoralejo at 05:11, 25 February 2009

2009-02-25T05:11:38Z

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 Ref.No. MDGT-2008-08
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 Pursuant to BIR Revenue Regulation No. 2-98 dated 17 April 1998 on "Zero Tax", The Accounting Office witholds income tax such that the amount of income tax withheld at the end of the year is the correct amount of tax corresponding to the employees' taxable income.
 While the Accounting Office has been implementing the above-mentioned Revenue

Rsmoralejo: New page: Ref.No. MDGT-2008-08 03 April 2008 To : Deans, Directors, heads of Units and all concerned Subject : Tax Deficiencies _______________________________________________________________ ...

2009-02-25T05:02:44Z

New page: Ref.No. MDGT-2008-08 03 April 2008 To : Deans, Directors, heads of Units and all concerned Subject : Tax Deficiencies _______________________________________________________________ ...

New page

Ref.No. MDGT-2008-08

03 April 2008

To : Deans, Directors, heads of Units and all concerned

Subject : Tax Deficiencies

_______________________________________________________________

Pursuant to BIR Revenue Regulation No. 2-98 dated 17 April 1998 on "Zero Tax", The Accounting Office witholds income tax such that the amount of income tax withheld at the end of the year is the correct amount of tax corresponding to the employees' taxable income.

While the Accounting Office has been implementing the above-mentioned Revenue