The BIR Form 2316 is also called the Certificate of Compensation Payment or Income Tax Withheld.The BIR defines compensation as either salaries, wages or other forms of remuneration given by an employer to an employee. What Is It for and Who Needs to File It?This form is a certificate that must be accomplished and issued yearly by the Payor or Employer to each employee whose income is subjected to final tax declaration. The employer must indicate the total amount that was paid to the employee and the corresponding taxes withheld during the calendar year.Should you have no other income fromother employers, there will be no need for you to file an income taxreturn. The BIR Form 2316 is enough proof that your income has alreadybeen subjected to income tax. This is called substituted filing, whereinthe employer files the for the employee.This form is normally requested as partof pre-employment requirements in order for your new employer to makesure that the correct deductions have been made by your previousemployer. When Is the BIR Form 2316 Issued?The employer must issue the form to each employee on or before the 31 st of January of the succeeding year in which payment was made. However, in the case of termination of employment, it must be issued on the same day when the last payment of wages was made.The BIR Form 2316 must be attached tothe Annual Income Tax Return, which is the BIR Form 1700 for individualsreceiving purely compensation income or BIR Form 1701 for individualswith mixed income.
Bir Form 0605
Bir Form 2316 Pdf 2018
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