The Bureau of Internal Revenue has not yet made public the FINAL IMPLEMENTING GUIDELINES OF RA 9504. As I have mentioned in my previous post, there has been a second draft of the Implementing Guidelines of RA 9504 dated August 5, 2008. This was part of the discussion materials by one of the BIG 4 ACCOUNTING FIRMS in the Philippines. Until such time that the website of the BIR or the the final implementing guidelines of RA 9504 is published, I believe it is just appropriate that I keep the copy yet and post the final draft once it’s made public.
There are some peculiar requirements required in the implementing guidelines of RA 9504, aside from the obvious mandate of using the transitional withholding tax table. The TRANSITIONAL WITHHOLDING TAX TABLE is required due to the pro-rata application of the personal and additional allowable exemptions. Thus, for individuals, regardless of personal status, the prorated personal exemption is Php.25,000,and for each qualified dependent child (QDC), Php.12,500. The BIR has provided transitory provisions for the Taxable Year 2008 implementation of the new tax exemptions law. It requires all employees to accomplish and file the Certificate of Update of Exemption and of Employer’s and Employee’s Information (BIR Form No. 2305) or an Application for Registration (BIR Form No. 1902 – for those with no TIN reflecting claimed exemption, together with the required documents or evidence of exemption. These must be submitted to EMPLOYERS not later than September 30, 2008. It will be the employer’s responsibility to transmit both the original and duplicate copies of the identified BIR forms on or before October 31, 2008 after the employer has likewise filled-up the portion of the Employer’s information. The place of filing for these forms will be the Revenue District Office (RDO) where the employer is registered. However, for those employers classified as Large Taxpayers, the BIR forms shall be submitted to the RDO having jurisdiction over the principal/head office. Further, In case the employer opted to decentralize the payroll process to their branches, the stated documents shall be submitted to the RDO having jurisdiction over the place of assignment of the employee. If an employee fails or refuses to update the details required in the mentioned BIR forms, that employee will be subjected to withholding taxes prescribed under the schedule of Zero Exemption as indicated in the IMPLEMENTING GUIDELINES OF RA 9504.
The requirements mentioned are the those of which should be of priority to employees. There are also requirements that are expected to be followed by employers in complying with the IMPLEMENTING GUIDELINES OF RA 9504.
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helo.. kindly send me a coy of irr of ra 9504. tnx!
hello! pls send me a copy of implementing guidelines on RA 9504. tnx
please send me a copy… of the latest on ra 9504
pls send me a copy of RA 9504 implementing guidelines. tnx
Please send me copy of the IRR. Thank you.
hi cyril actually im really quite new in the field. so im having hard time in understanding everything… im not an accountant as well but im in charge of the payroll in our company… can you please send me also the copy of that i will really appreciate it.. thanks…
please send me the copy of RA 9504 guidelines and tables
please send me the copy of RA 9504 guidelines and tables