Tax shield

@ybong007 (6659)
Philippines
October 12, 2010 3:47am CST
a friend told me that employees can avail of tax shield so they get back the withholded tax from their salaries by submitting receipts. How does it work?
1 response
@TheAdvocate (2395)
• Philippines
12 Oct 10
That depends on the policy of the company you are working for - not all companies offer tax shield as a benefit. A tax shield is actually a benefit where the company will declare a portion of your income as allowance so that you will not have to pay tax on that portion. Go to HR and ask if you are entitled to that benefit, never hurts to ask.
@ybong007 (6659)
• Philippines
13 Oct 10
Thanks for the info. I'll call HR for clarifications.