What is Withholding Tax on Compensation? By definition, it is the tax withheld from income payments to individuals arising from an employer-employee relationship.

In computing tax, we need to understand the following terms:

Your annual gross compensation income, what are allowable deductions, and net taxable compensation income.

What are these necessary deductions from your payslip? How do we compute the SSS, Philhealth and Pag-ibig deductions?

The 13th-month pay is a mandatory benefit provided to employees pursuant to Presidential Decree No. 851. It is given to all rank-and-employees who worked for at least one month during the year, regardless of the nature of their employment and irrespective of the methods by which the wages are paid. To know more about the topic, please watch this vlog.

Are you curious on how to compute your overtime pay? Here's another informative vlog that will surely be of help to you.

We have often heard of the term de minimis benefits, but what exactly are these employee availments? P&A Grant Thornton aims to define and shed light on the principles behind some of the commonly used terms in tax exemption and employee benefits in this video.