Revenue Memorandum Circular · RMC
RMC No. 34-2022
To announce the availability of the revised BIR Form No. 2316 (September 2021 ENCS), revised to include an additional line for the 5% tax credit under the Personal Equity and Retirement Account (PERA) Act of 2008.
- Document type
- RMC
- Number
- 34
- Year
- 2022
- Text quality
- Not specified
Document text
Reference copy · verify against the official sourceRMC No. 34-2022 (January 31, 2022) announces the availability of the revised BIR Form No. 2316 (Certificate of Compensation Payment/Tax Withheld for Compensation Payment With or Without Tax Withheld), September 2021 ENCS, which was revised to add a line for the 5% tax credit under the PERA Act of 2008. It restates that every employer must furnish Form 2316 to every employee from whom taxes were withheld on or before January 31 of the succeeding calendar year (or, if employment is terminated before the close of the calendar year, on the day the last compensation payment is made), and that the form must also be issued to Minimum Wage Earners (MWEs) and other employees whose compensation were not subjected to withholding tax.