41. SCHEDULE OF EXPANDED WITHHOLDING TAX (EWT) Income Payment EWT Income Payment EWT Professional/Management/Consultancy fees (Individual) Gross receipts 3M or below with sworn declaration - 5% Gross receipts over 3M or VAT-reg or without sworn declaration – 10% Purchase of goods or properties by Top Withholding Agents (TWA) - 1% - goods 2% - service Professional/Management/Consultancy fees (Non-Individual) Gross receipts 720,000 or below - 10% Gross receipts over 720,000 – 15% Partners in general professional partnerships (drawings, advances, sharings, allowances, etc.) 720,000 or less -10% Above 720,000 – 15% Contractors/subcontractors (security, janitorial, etc.) 2% Commission (if not employee) 10% Director’s fees (if not employee) 10% or 15% (720,000 threshold) Income distributed to beneficiaries of estates/trusts 15% Rental 5% Below are the data provided to you by Nicanor, a top withholding agent for the month of May 2021: Purchases of goods from XYZ Corporation, a regular supplier. 800,000 Purchases of services from GHI Corporation, a regular supplier. 200,000 Purchase of services from Jabiiee corporation (meals for employees of the company; 4 times transactions) 25,000 Purchases of goods from NBS corporation (purchase of office supplies; 8 times transaction) 8,000 Rent expense 50,000 Professional fees (w/sworn declaration) 30,000 Professional fees (w/o sworn declaration) 40,000 Security fees (20% of which is the agency fee) 100,000 Janitorial services fees 10,000 The total expanded withholding tax that Nicanor will remit to the BIR is?
41. SCHEDULE OF EXPANDED WITHHOLDING TAX (EWT)
|
Income Payment |
EWT |
Income Payment |
EWT |
|
Professional/Management/Consultancy fees (Individual) |
Gross receipts 3M or below with sworn declaration - 5% Gross receipts over 3M or VAT-reg or without sworn declaration – 10% |
Purchase of goods or properties by Top Withholding Agents (TWA) - |
1% - goods 2% - service |
|
Professional/Management/Consultancy fees (Non-Individual) |
Gross receipts 720,000 or below - 10% Gross receipts over 720,000 – 15% |
Partners in general professional partnerships (drawings, advances, sharings, allowances, etc.) |
720,000 or less -10% Above 720,000 – 15% |
|
Contractors/subcontractors (security, janitorial, etc.) |
2% |
Commission (if not employee) |
10% |
|
Director’s fees (if not employee) |
10% or 15% (720,000 threshold) |
Income distributed to beneficiaries of estates/trusts |
15% |
|
Rental |
5% |
|
|
Below are the data provided to you by Nicanor, a top withholding agent for the month of May 2021:
|
Purchases of goods from XYZ Corporation, a regular supplier. |
800,000 |
|
Purchases of services from GHI Corporation, a regular supplier. |
200,000 |
|
Purchase of services from Jabiiee corporation (meals for employees of the company; 4 times transactions) |
25,000 |
|
Purchases of goods from NBS corporation (purchase of office supplies; 8 times transaction) |
8,000 |
|
Rent expense |
50,000 |
|
Professional fees (w/sworn declaration) |
30,000 |
|
Professional fees (w/o sworn declaration) |
40,000 |
|
Security fees (20% of which is the agency fee) |
100,000 |
|
Janitorial services fees |
10,000 |
The total expanded withholding tax that Nicanor will remit to the BIR is?
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