Amendment to Withholding Tax Regulations Pursuant to R.A. No. 2343

August 25, 1959 REVENUE REGULATIONS NO. V-70 SUBJECT : Amendment to Withholding Tax Regulations Pursuant to R.A. No. 2343 TO : All Internal Revenue Officers and Others Concerned Pursuant to the provisions of Sec. 338, in relation to Article 2 (a) and (c) of Supplement A to Title II of the National Internal Revenue Code, in so far as affected by the provisions of Republic Act No. 2343, the following amendments to Revenue Regulations No. V-8, as amended by Revenue Regulations No. V-33, are hereby promulgated for the information and guidance of all concerned and shall be known as Revenue Regulation No. V-70. SECTION 1. The withholding tax tables given under Sec. 7 of Revenue Regulations No. V-8, as last amended by Revenue Regulations No. V-33, is hereby further amended by the attached revised withholding tax tables. SECTION 2. Section 9 of Revenue Regulations No. V-9 is hereby amended to read as follows: Right to claim withholding exemptions. An employee receiving wages shall on any day be entitled to withholding exemption as provided in the main provisions of Title II. In order to receive the benefit of such exemptions, the employee must file with his employer a withholding exemption certificate. The withholding exemptions to which an employee is entitled on any day depends upon his status as single, married, head of the family and the number of additional exemption for dependents ( i.e. , legitimate, recognized natural or adopted children in accordance with Sec. 23 of the Code). Each employee may claim the following withholding exemptions in the withholding exemption certificate to be filed with his employer with respect to wages paid on or after January 1, 1959. 1) If single, P1,800.00 2) If married or head of family, P3,000.00 3) Additional exemption for each dependent, P1,000.00 SECTION 3. These regulations shall take effect on January 1, 1959. IDTcHa (SGD) JAIME HERNANDEZ Secretary of Finance RECOMMENDED BY: (SGD) MELECIO R. DOMINGO Commissioner of Internal Revenue ATTACHMENTS Daily Withholding Table or Miscellaneous Withholding Table Bi-Weekly Withholding Table Weekly Withholding Table Semi-Monthly Withholding Table Monthly Withholding Table