Withholding of Less than the Correct Amount of Tax
BIR Ruling No. 672-58 • Bureau of Internal Revenue (BIR) Issuances • Rulings (Numbered) • Oct 10, 1958
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October 10, 1958 BIR RULING NO. 672-58 2nd Indorsement Respectfully returned to the Regional Director, B.I.R. Regional District No. 3, Manila, with the information that no penalty can be imposed upon employers who withheld from their employees less than the correct amount of tax prescribed under the Withholding Tax Law. However, there should be added to the deficiency tax 5% surcharge and 1% monthly interest for late payment pursuant to Article 7, paragraph 2, of Republic Act No. 590. (SGD.) MELECIO R. DOMINGO Acting Commissioner of Internal Revenue
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