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1 of 3 Who Must File: Remitters of oil and gas proceeds from oil and gas production from a well located in New Mexico who are subject to withholding tax from payments according to the Oil and Gas Proceeds and Pass-Through Entity Withholding Tax Act (Sections 7-3A-1 through 7-3A-9 NMSA 1978) are required to submit information returns to the Department annually. For oil and gas proceeds paid on or after January 1, 2012, Form RPD-41374, Annual Report of Non-Resident Remittees Holding An Agreement.

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Who needs to pay Expanded Withholding Tax? As the name implies, withholding agents remit the expanded withholding tax return (containing all income tax deductions) to the BIR for all their employees. This applies to any of the following individuals or professions: Licensed professionals.

Withholding Agent Liability As a withholding agent, you are personally liable for any tax required to be withheld. This liability is independent of the tax liability of the foreign person to whom the payment is made.

The Professional Fee Withholding Tax is calculated at a rate of 5%-15% of the gross payment, depending on the type of professional services rendered. The tax is withheld by the payer when the payment is made, and it is remitted to the Bureau of Internal Revenue (BIR) along with the payer's other tax obligations.

An individual earning less than P250,000 a year is exempted from withholding tax, where the income is coming only from a single payor (i.e. a tax withholding agent).

As an employer must I submit an annual report of New Mexico withholding tax paid and reported during the tax year? No, but you may choose to complete and submit to the Taxation and Revenue Department (TRD) Form RPD-41072, Annual Summary of Withholding Tax for CRS-1 Filers.

For resident and non-resident aliens engaged in trade or business in the Philippines, the maximum rate on income subject to final tax (usually passive investment income) is 20%. For non-resident aliens not engaged in trade or business in the Philippines, the rate is a flat 25%.

An individual earning less than P250,000 a year is exempted from withholding tax, where the income is coming only from a single payor (i.e. a tax withholding agent).

This means that it is the employer who is required to deduct the withholding tax from an employee's salary and it is the employer who is required to remit the withheld tax to the BIR. In short, the burden of compliance in the Philippines, from the perspective of Withholding Tax on Compensation, falls on the employer.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232