Waterkonsult named among Top Withholding Agents

The Bureau of Internal Revenue (BIR) has named Waterkonsult Equipment and Services, Inc., the leading Non-Revenue Water reduction equipment supplier and service provider in the Philippines, among the Top Withholding Agents (TWAs) in the country.

As a TWA, Waterkonsult is now required to deduct either 1% creditable withholding tax on its purchase of goods or 2% on its purchase of services, as per the notice sent by BIR dated October 15, 2018.

Waterkonsult’s finance officer said that being one of the TWAs in the Philippines means that the company is very diligent in paying its taxes promptly.

TWAs include large taxpayers, top 20,000 private corporations, top 5,000 individuals, taxpayers identified as Medium Taxpayers, and those under the Taxpayer Account Management Program.

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