SSS Contribution Table as of January 2007

Philhealth premium contribution Jan 2009

RA 9504 : REVISED WITHHOLDING TAX TABLES EFFECTIVE 2009

SEPTEMBER 11, 2008 BY RISKSOFBUSINESS 178 COMMENTS RA 9504 has a transitional withholding taxes table and in which that I have posted in my topic, IMPLEMENTING GUIDELINES OF RA 9504, are to be used effective July 2008 to December 2008. The transitional withholding tax tables have been devised to aide in computing for withholding taxes of employees as an effect on the pro-rata application of the NEW TAX EXEMPTIONS. However, effective January 2009, the 2009 REVISED WITHHOLDING TAX TABLE shall be used to address by then the full implementation and application of the NEW TAX EXEMPTIONS as provided for in RA 9504. It is the responsibility of employers making payment of compensation to deduct and withhold a portion of an employee's pay a tax determined in accordance with the 2009 REVISED WITHHOLDING TAX TABLE. There are two basic ways on computing for withholding taxes. It could either be through the use of the REVISED WITHHOLDING TAX TABLE or the ANNUALIZED METHOD. Let us focus on the method of using the revised withholding tax table for purposes of this discussion. There are four (4) withholding tax

tables prescribed in the IMPLEMENTING GUIDELINES OF RA 9504, namely: (a) Monthly Tax Table, which is to be used by employers whose employees are paid once a month. (b) Semi-Monthly Tax Table, which is used by employers using the semi-monthly payroll period. The Semi-monthly manner of computing withholding taxes is the most commonly used type. (c) Weekly Tax Table, which is used by employers whose employees are paid on a weekly basis. And (d) Daily Tax Table, which is used by employers using the daily payroll period. The components of the REVISED WITHHOLDING TAX TABLE is grouped into Tables A and B. Table A is used for employees with no Qualified Dependent Child (QDC) and Table B is used for employees with QDC. The columns in the tables reflect the following: (a) 1st column reflects the exemption status of employee represented by letter symbols. (b)2nd column reflects the total amount of personal and additional exemption, in pesos, to which an employee is entitled. (c) Column numbers 1 to 8 reflect the portion of the amount of taxes to be withheld on the amount of compensation of the employees. Every amount in all the columns within Tables A and B represent the compensation level. (d) Legend of symbols The symbols used in the REVISED WITHHOLDING TAX TABLE represents tax status of employees: Z Zero exemption, S ingle, legally separated spouses/widow/widower, ME Married employee who is not legally separated, Exemption means the amount of exemption in thousand pesos an employee is entitled to claim as a deduction from gross compensation income in accordance with the status and number of qualified dependent children (QDC). The numerals (1-4) affixed to the status symbols and represent the number of qualified legitimate, illegitimate, or legally adopted children.