
EWT Training
Quiz by Ferdie Maglayon
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XYZ Company is a top withholding agent and has an obligation for their rent expense amounting to P13,000.00 for the month of March 2023. As per the payor's obligation to deduct and withhold the tax, when should the company withhold the said expense given the following dates:
Duedate of payment: March 15, 2023
Payment Date: February 15, 2023
Recorded in books: February 28, 2023
During the audit conducted by the BIR official, it was found that the rental income claimed by the corporation was not subjected to expanded withholding tax. Accordingly, the claimed rental expense: