Tax Liability for Late Payment of Withholding Taxes

December 1, 1966 BIR RULING NO. 064-66 The Philippine Education Company, Inc. 1104 Castillejos, Quiapo M a n i l a Attention : Mr . Marcial Esposo ( General Manager ) Gentlemen : This refers to your letter dated September 28, 1966 requesting information as to your tax liability for late payment of withholding taxes. In reply thereto, I have the honor to inform you that every employer required to deduct and withhold the taxes on wages must make a return and pay such tax on or before the 25th of the month following and of each quarter ending March 31, June 30, September 30 and December 31 (Section 19, Revenue Regulations No. V-8) or within 10 days after the close of the month if the tax withheld is more than P200.00 (Section 22, Revenue Regulations No. V-8). In case the taxes deducted and withheld by the employer, as in the case of your company, are not paid within the time prescribed, there shall be added a surcharge of five per centum (5%) on the amount of tax unpaid and interest at the rate of one per centum (1%) a month upon the amount required to be paid from the time the same became due until paid. (Article 7, Supplement A to Title II, National Internal Revenue Code). liblex Very truly yours, (SGD.) MISAEL P. VERA Commissioner of Internal Revenue