OTHER MANDATORY AREAS
Compliance with Tax Laws
10.1 The City complied with tax laws on withholding taxes from salaries, wages, purchases
of goods and services, and value-added tax. Taxes withheld were remitted to the Bureau
of Internal Revenue within the reglementary period, every 10th day of the following
month. A tabular presentation of the amount of remittance and ending balance can be
seen below:
Balance from
Balance Amount
Account Date of Remittance Prior Years (for
12/31/2024 Remitted
reconciliation)
Due to BIR 10,505,928.78 January 10 & 25, 2025 11,082,017.05 (576,088.27)
Compliance with Government Service Insurance System (GSIS) Act of 1997 (RA No.8291)
10.2 The City complied with the Government Service Insurance System (GSIS). Proper
deduction of premiums and loan amortization was made and duly remitted. See table
below:
Balance from
Balance Amount
Account Date of Remittance Prior Years (for
12/31/2024 Remitted
reconciliation)
Due to
7,212,130.17 January 7, 2025 4,391,411.85 2,820,718.32
GSIS
Compliance with Property Insurance Law (RA No. 656)
10.3 The City of Guihulngan has complied with the Property Insurance Law insuring its
vehicles and the newly constructed Mega Market.
Compliance with Home Development Mutual Fund (HDMF) Law of 2009 (RA No. 9769)
10.4 The City complied with the proper deduction of Pag-IBIG Fund contribution and loan
amortization. Details are presented below:
Balance from
Balance Amount
Account Date of Remittance Prior Years (for
12/31/2024 Remitted
reconciliation)
January 2, 6, 9, 13,
Due to
1,556,081.31 14,15, 21, 22 & 23, 641,788.13 914,293.18
HDMF
2025
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