TAX QUESTIONS? YOU ASK LAH!

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Q: I am an employee of an insurance company and receive commissions from the company. Is my employment income subject to the 2% withholding tax provision?

A: The 2% withholding tax only applies when payments are made by a company to resident individuals who are agents, dealers, and distributors. As you are an employee of the company, the employment income received shall not be subject to the provision of the 2% withholding tax.

Wishing you plentiful tax savings! 

Zen Chow

YYC Tax Guru

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