Revenue Memorandum Circular No. 1-2018 defines the mechanics of using the Withholding Tax Table on Compensation Income and Advises on the Change of Creditable Withholding Tax Rate on Certain Income Payments to Individuals.
The provisions listed in this issued Revenue Memorandum Circular focuses on the steps in using the Withholding tax table on compensation, as well as announce some changes within the Creditable Withholding Tax Rates on Income Payments to self -employed individuals as well as professionals.
You can read all the steps along with sample computations within the withholding tax table by downloading this link.
