Over 300 participants attended Friday’s forum on the Tax Reform for Acceleration and Inclusion (TRAIN) law organized by the local revenue district.
The forum, initiated by Bureau of Internal Revenue (BIR) Revenue District 36 Officer Vicente Gamad, discussed issues and concerns on the new creditable withholding tax rate for regular and contractual employees.
The speakers included Assistant Revenue District Officer Luz Bocita, Revenue Officer Gerald Gatinga, Revenue Officer Ryan Gatpandan, and CSS Chief Gregoria Lopez.
Gamad pointed out that the filing and remittance of withholding taxes starting 2018 will be on a quarterly basis as provided by the new law.
He added however that institutions and companies who want to file and remit withholding taxes on a monthly basis will also be accommodated.
“Walang nakalagay sa batas na bawal kung gusto n’yo magbayad ng monthly,” Gamad said.