Thursday, January 07, 2010

First Post For The Year

I don't know if I'm just unlucky or what.  Last Monday, I've already sold some of my company's stock options since I'll be using its proceeds in adding some more funds on my stock trading.  At that time, the net proceeds was not subject to tax since I've already submitted W-8BEN form.  I was surprised last night that my net proceeds was deducted by 32% tax and I was told by our equities officer that indeed my proceeds was not subjected to U.S. taxation but it is still subjected by Philippines tax.  Ok I'll consider that, but our office here is categorized as ROHQ (Regional Operating Headquarters) so it is only subject to 15% tax.  Good thing that our new H.R. just joined VeriFone last December so I'm pretty sure she is already handling this.  Oh well I hope that this can be settled immediately as my proceeds was already wire transferred to my account.

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