What is withholding TAX on compensation?
As per BIR, Withholding tax on compensation is the tax withheld from income payments to individuals arising from an employer - employee relationship.
Who are required to File?
Every registered withholding agent on compensation, which includes, but not limited to to the following:
1.) Individuals engaged in business or practice of profession with employees subject to income tax.
2.) All Juridical persons (e.g Corporations, general partnerships, associations, etc.), whether or not engaged in business.
3.) Government Agencies and Instrumentalities (e.g, NGAs, GOCCs, etc.), including local government units (LGUs).
Anyways, here's a link on how to determine your withholding taxes.
This BIR Withhholding TAX Calculator is free to use. This was develop in order to aid employees for their BIR Withholding tax computation needs. And also para makita din natin kung tama ang kaltas ng mga employers natin! :D
http://birtaxcalculator.com/calculators/bir_withholding_tax_computation_2009
2014 is the Year of the Wooden Horse! And i'm a SNAKE (1989).
SNAKES in the Year of the Horse
The career luck, money luck and people relationship will be good. Year of the HORSE is the time to re-boot your life.
CAREER
Your hardship, discipline and cultivation from the previous year will bring you good results this year. 2014 is Wooden Horse year. Wood is related to Snake's education and intelligence. Snake people will become much smarter. Since your people relationship will be good, a career promotion is possible. Also, the Salary Star appears in 2014, your pay is not only stable, the salary raise will come.
MONEY
Snake people have slow income last year. In 2014, Snake has a very good career luck. The career position brings people the fixed and stable income. They also have clear mind and creative idea in the Year of the Horse. They can start a new project or new investment to pursuit their wealth in 2014. Since Salary Star comes toward you, you can try on any job opportunity for better pay, In short, you must earn money from your wisdom. To gamble a risky investment without using brain is still danger.
LOVE
Horse and Snake have attraction relationship because of FIRE. Also, Horse brings a Romantic Star to Snake people in 2014. Therefore, the love relationship of Snake people must be great this year. If you are single, it's time to join the social activities to find your companion. If you are in love, then your love relationship will be sweeter. You should think about deeper relationship. If you are married, then you will have a wonderful marriage life in 2014.
HEALTH
There is a slight illness sign showing in 2014. That shouldn't create a big issue. As long as Snake people have good habit of enough sleep, right eating, proper exercise and good sanitation in your daily life, they will recover their health quickly when illness occurs. Senior people should avoid to plan for a long-distance travel during summer.
To know more about your overall luck, take a quick look here:
http://www.chinesefortunecalendar.com/2014/2014Snake.htm
