19.5 Verification of the SL, General Journal, and the supporting documents for the
remittance of taxes for the said account revealed the following delays in
remitting the taxes:
Withholding Tax on Compensation
19.6 Item B.4 of the aforementioned Revenue Memorandum Circular requires that
withholding taxes on compensation, filed and remitted through the Electronic
Filing and Payment System (eFPS), must be made on or before the 15th day of
the following month. However, taxes withheld in December must be remitted
by the 20th day of January of the following year.
19.7 While it is commendable that the remittance of withholding taxes on
compensation in the General Fund was expedited — with the majority of
remittances made earlier than the prescribed remittance period or on the last day
of the month in which they were withheld — it was observed that some taxes
withheld did not comply with the prescribed remittance period, as shown in the
table below:
No. of
Date
Month Withheld Remittance Balance Days
Remitted
Delayed
Beg. Bal. ₱1,307,061.82 ₱1,220,862.85 01/03/24 ₱ 0.01
86,198.96 01/31/24 11
January 1,216,660.18 1,102,769.09 01/31/24 0.00
98,436.16 02/29/24 14
15,454.93 04/30/24 75
February 1,088,303.22 1,070,011.09 02/29/24 0.00
18,292.13 04/30/24 46
March 1,259,075.34 1,129,918.04 03/27/24 0.00
113,949.23 04/30/24 15
15,208.07 05/30/24 45
April 1,133,346.38 1,119,150.88 04/30/24 0.00
13,157.19 05/30/24 15
1,038.31 06/28/24 43
May 1,442,621.39 314,954.35 06/28/24 0.00 13
1,095,716.29 05/30/24
11,659.76 08/29/24 75
20,290.99 07/30/24 45
June 1,153,036.31 1,068,479.19 06/28/24 0.00
84,557.12 07/30/24 15
July 1,271,942.88 138,793.24 09/30/24 5,479.51 46
1,117,755.67 07/30/24
9,914.46 08/29/24 14
August 1,195,923.42 2,087.90 09/30/24 6,443.36 15
1,187,392.16 08/29/24
Total ₱11,067,970.94 ₱11,056,048.06 ₱11,922.88 15 & 46
19.8 Based on the table above, the delays in remittances ranged from 11 to 75 days
beyond the prescribed due dates. Additionally, the withholding taxes on
compensation under SL account code 20201010-11-H (Proper), totaling
₱100,707.34, from various dates starting November 5, 2020, have not been
remitted as of December 31, 2024:
96
