Withholding on agricultural suppliers

Threshhold for withholding on agricultural suppliers

The BIR has issued a draft revenue regulations instituting a threshhold of P100,000 in cumulative purchases before a top 20,000 corporation shall be required to withhold from agricultural suppliers.

The draft regulations will be presented in a public hearing today (June 3) starting at 1:30 pm at the BIR National Training Center.

Copy of the draft regulations is attached for your reference.

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