PHG » Topics » Tax Withholding

This excerpt taken from the PHG 6-K filed Mar 19, 2008.

Tax Withholding

On the date of purchase of shares, a Participant would owe ordinary income tax on the difference between the closing market price per share and what the Participant actually pays for each share in the program. Taxes are withheld from the Participant’s next available paycheque after the purchase date. Both the benefit per share and the tax withheld are reflected on that cheque and included in the year-end T-4 and Releve 1 (Quebec taxpayers only) statement.

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