BIR Form No. 2306, also known as the Certificate of Final Tax Withheld at Source, is an important document for both payors and recipients of income subjected to final tax in the Philippines. This certificate outlines the amount paid by the payor to the recipient and details the taxes withheld and remitted during the specified period.
What is BIR Form No. 2306?
This form is required to be completed and issued by the payor or withholding agent (WA) to each recipient of income who has had final taxes withheld. It serves as proof of the income paid and the taxes remitted, ensuring compliance with tax regulations. The form should specify the total amount of payment made as well as the total taxes that were withheld and paid to the Bureau of Internal Revenue (BIR).
Filing Date and Requirements
BIR Form No. 2306 must be issued to the payee on or before January 31 of the year following the year in which the income payment was made. However, in cases where the payee requests the certificate earlier, the payor must provide the document at the time of the income payment.
It’s crucial for payors to fulfill this obligation as it helps recipients in properly reporting their income and taxes during tax filing season.
How to Access the Form
For convenience, BIR Form No. 2306 is available in both Excel and PDF formats. You can download the form below:
By having this certificate, both payors and payees are equipped with the necessary documentation to ensure proper tax filing and compliance with Philippine tax laws. Make sure to download and issue this form in a timely manner to avoid any penalties or issues with tax authorities.