Course Description:

The training covers the basic concept, general principles and underlaying laws and regulations of the withholding tax system in the Philippines; Computation of the correct withholding taxes due thereon; Basic compliance requirements with respect to filing and remittance of withholding taxes; Tax developments and updates relating to withholding taxes.

Target Participants:

The seminar is especially designed for government employees from NGAs, GOCCs/GFIs, LGUs and SUCs, particularly those assigned in the internal audit, accounting, finance, treasury, budget, asset management, general services, human resource management, corporate planning, operations systems developers, procurement, legal, etc.

Those in the private sector especially those who have contracts/transactions with government or intend to transact or do business with government are encouraged to attend this training course.

Performance Objectives:

· To assist government officials and employees;

· To become more responsive and effective public servants in line with Memorandum Circular No. 89 dated August 18, 2005, and in compliance with Section 3 of Administrative Order No. 70 series of 2003, both issued by the Office of the President, mandating the AGIA and;

· To ensure that all internal audit works in all government agencies be conducted in conformity with the standards of the internal audit profession.

Learning Objectives:

· To develop a holistic understanding and appreciation of the basic concept, general principles and underlaying laws and regulations of the withholding tax system in the Philippines;

· To enhance the participants' basic understanding of the underlying laws, regulations and general principles of the withholding tax on compensation, expanded withholding tax, final tax and other percentage taxes;

· To help the participants compute the correct withholding taxes due thereon;

· To provide information about the basic compliance requirements with respect to filing and remittance of withholding taxes;

· To provide the relevant tax developments and updates relating to withholding taxes.

Course Content:

Module 1: Introduction of Withholding Tax and Compensation

Module 2: Year-End Adjustment and Expanded Withholding Tax

Module 3: Final Tax and Fringe Benefits

Module 4: Government Money Payment

Filing And Payment and Compliance Requirements