Paying the right taxes is an obligation and not an option!
This #BIR form 1601E(expanded) is what a company files on a monthly basis supporting payment for all the total of 10% taxes withheld from its independent distributors sales bonuses. We file this together with the alpha-list or names of all individuals from which an amount of income is withheld and we pay the corresponding overall total withheld value. 1601E therefore supports and equates the total creditable withholding taxes in all the BIR form 2307 issued by the company to its independent distributors. In common terms, #AlphanetworldCorporation has issued a total sales bonus/commissions amounting to P83,988,782.40 for the month of March of 2016 as evidenced by our payment of P8,398,878.24.
If this is our total pay out for March, how much then is our entire sales? Let it be a puzzle for you at the moment but in the coming days, you will find the other pieces of the puzzle and let other BIR forms and filing answer this ??
Have a lovely evening #Ntrepreneurs