Employee’s Withholding and Fringe Benefits Tax

SEMINAR TITLE: Employee’s Withholding and Fringe Benefits Tax

TIME: 9:00 am - 4:00 pm

VENUE: Unit 201 Richbelt Tower, 17 Annapolis St., Greenhills, San Juan City, Metro Manila

SCHEDULE: Please call telephone 727-5628, 727-8860, or 496-6949. You may also click here to view BusinessCoach Schedule of Seminars >>>

OBJECTIVES:

• 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

KEY TOPICS:

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
e. Tips
f. Stock Options
g. Backwages
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
d. Coverage
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

SEMINAR FEE: Php 3,000.00 per person (inclusive of snacks, lunch, drinks, seminar kit, handouts, certificate of attendance)

DISCOUNT: 10% Discount if FULL AMOUNT is paid at least five (5) days before the event.

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.
RESERVATION: Phone reservation is required. Please call telephone 727-5628, 727-8860, or 496-6949.

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 BUSINESS COACH: 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.

REFUND POLICY: 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 Business Coach office in San Juan City, Metro Manila. Business Coach does not deposit refunds.

SCHEDULE: Schedule may change without prior notice. Please call to confirm. Business Coach, Inc. is not liable for any expense incurred by seminar registrant resulting from cancellation of any of our events.