[terrapin]

other than vat and expanded holding tax, dagdag din ba toh sa taxable income natin?

[nailbiter]

^Yes.

[dadi_drew]

bat kaya sa Think Rich Pinoy walang binabanggit na tax.. mas matipid bang gumawa ng corporation kaysa i file ang tax sa individual tin?

[jackbrng]

bat kaya sa Think Rich Pinoy walang binabanggit na tax.. mas matipid bang gumawa ng corporation kaysa i file ang tax sa individual tin?

advantage sa corporation kapag malaki o lumalaki ang business, pwedeng i-diversify. sa single proprietor, kapag lumaki o dumami business mo, pagaari ito lahat ng proprietor. In this case, favorite ka na ng bir nyan, hehehe.

kidding aside, mas advantageous ang corporation dahil nga sa diversification. each has its own identity. in regards sa tax, twice ang tax sa corporation. first sa corporation mismo, yung income ng corporation and second sa dividend.

[jazzyhazzy]

hay, salamat!!!!! nakita ko rin ang site and topic na ito which i'm looking for the last months,, ano kasi,, base nitong mga knowledge na ito,, magagamit ko ang mga karagdagang kaalaman dito tungkol sa kaso ko against my landlady. In which i bring up the case to the Lupon(barangay) for further questions of the
deposit dispute. More than 3 years ko nang ino occupy yung house in the rent of 8,000/month and in fact hindi nagbibigay ng resibo yung may ari everytime i paid my rent and ask for the receipt lagi niyang sinasabi na kesyo wala siyang dalang resibo at ihahatid na lang daw sa bahay na hindi naman nangyayari hanggang sa tuluyan na kaming umalis sa bahay na yun. Advanced and up to date ang rental payment ko. Now come up to case umalis na kami sa bahay na yun last Oct. 15,2009 and i want my 2 months deposit back,,ayaw niyang ibigay,,yung lease of contract namin ayaw pa sana niyang ibigay kung hindi ko pa pinilit questionable kasi walang docket and any sign of lawyer to make the statement accurate. Bukas na ang 3rd hearing namin sa Lupon,, and i sited it na papaboran siya kasi nga half of the jury ay mga kumare niya. And i want justice kung ayaw niyang ibalik yung deposit ko. my question is,,Accurate pa ba na isumbong ko siya sa BIR sa hindi niya pagbigay ng rental receipt kahit wala na ako sa bahay na yun? And besides duda ko hindi siya nagbabayad ng tax sa rental biz niya base sa contract namin,, pwede pa bang ihabol ang complaint ko sa BIR? Please,, can anyone kindly shared some knowledge regarding this rental tax forum. Thank you!

[WholesaleKid]

may tax ba ang rental? meron nga ba? parang wala?

[markus]

meron tax ang mga rentals sa real estate. Pag marami ka ng rentals, kelangan mo na mag hire ng accountant, kawawa ka pag nasilip ka ng BIR

[jazzyhazzy]

Last thing first, doing business without OR or BIR registration is actually a criminal offense under the Philippine Tax Code. While the present enforcement is quite inadequate and the possibility of being caught and actually prosecuted is almost next to nil, we need to look into our moral compass and check if we are comfortable with cheating.

If your are one of those wanting moral reform for the the country, this is a good place to start. I know most of the times, doing the right thing here is difficult but just do it, God sees us anyways.

All ordinary and necessary expenses are deductible against your business income. Thus, all items you enumerated can be used to reduce your income tax liability. However, except for depreciation you need to have the proper documentation for your expenses and the taxes withheld on payments for the said expenses unless these are exempt.

Check the BIR website at bir.gov.ph. You can even post your queries there.

Hello po,,in related to the OR's issue,,pwede ko pa bo mareklamo ang landlord sa BIR sa hindi niya pagbibigay resibo ng house rent? Kahit nakaalis na kami sa bahay? The rent is 8,000/mo. at inoocupy namin yung bahay for more than 3 years and yet wala talagang resibuhan na nangyari. Lagi niya kasing sinasabi na ipapahatid na lang daw sa bahay at nagtiwala naman kami dahil okey naman ang pakita niya sa amin noong una at katabi lang din ng bahay niya yung inuupahan namin... At marami pa siyang paupahan na hindi siya nagbibigay ng resibo. And noong ivacate na namin yung bahay ay ayaw niyang ibalik sa amin yung 2 months deposit. Pwede ko pa ba siyang irekalmo sa BIR?
              Please enlightened my mind,,,thanks!

[puberer]

 And noong ivacate na namin yung bahay ay ayaw niyang ibalik sa amin yung 2 months deposit. Pwede ko pa ba siyang irekalmo sa BIR?
           

meron po ba kayo contract?  kung meron, pwede niyo sa kanya habulin yung 2 months na na deposit niyo.  minsan po kasi ginagamit ng nagpaparenta ang deposit  sakaling meron minor repairs na iniwan ka sa inupahan mo.  depende po yan sa contract.  

karamihan po sa mga nagpaparenta ng house ay hindi nagbibigay ng receipt.  magbigay man, ay yung hindi regitered sa BIR.  

pagdating sa reklamo sa hindi pagbibigay ng iyong na deposit, sa barangay ka muna mag reklamo.  

[Ebenizeer]

I own a rental property under my business name(an LLC) and receive rental income. Can I report this rental income under business income (Sch. C) or should I report rental income separately under Sch. E (Supplemental income/loss)?

[nanashi]

I share ko lang nalalaman ko sa taxes sa rental or leasing properties/real estate.

Taxes:

* Real Property Tax (lot & building) (MUNICIPAL/CITY HALL)
Assess Value X Tax (1~2%) = Real Property tax
PLUS
Assess Value X Special Education Fund Tax Rate (1%) = Real Property tax

- Quarterly Sales Tax (VAT / Non-VAT) (BIR RDO)
3% Gross Revenue Quarterly - if non VAT Registered (If your expected Gross Revenue is above 1.5M annually)
12% Gross Revenue Quarterly - if VAT Registered (If your expected Gross Revenue is above 1.5M annually)

This tax can be a pass through tax.


- Business Permit / Mayor's Permit (Tax in nature, annually ) (MUNICIPAL/CITY HALL)
Depends on the LGU that has jurisdiction on it. Computation depends Gross Sales also

- Annual Income Tax (BIR RDO)
Depends if your Single Proprietor (varies from 24~32% see BIR tax bracket) or Corporation/Partnership 30% of your Net Income (minus the expenses if any and exemption if any)

That's all of it as far as rental of real properties is concern

[master]

taxes works or against in different country, unfortunately in the Philippines, leasing real estate is like having a small business, and like a small business you will be taxed to death. Making it unattractive to engage in one, unlike in other countries.

[photoaddict]

To pay for your real estate taxes on your personal name:
Go to BIR and apply for a "Certificate of Registration" that bears a tag "with real estate activities".
Then you will be advise on how to apply for a permit to print official receipt.
I would suggest that you have two sets, One for the Provisional Receipt and Second for the Official Receipts.
Provisional Receipt (PR) is issued when you receive deposit and advance, plus deposit for utilities.
Official Receipt (OR) is issued when you receive payment for the rental. I issue this receipt when the check I got from client cleared.

Taxes. if you are getting residential rental income. there are exceptions to vat.
You are not required to file VAT if your rental income is 1.) residential 2.) annual rental income is less than 1.5m. But non the less, you are required to file Percentage tax of 3%.
If your rental income comes from commercial unit, then you are required to pay VAT.

[ken1088]

hi, i have some properties that i rent out but i have not yet registered with the BIR with regard to official receipts. I want to report my income but I do not know how to report these.

Aside from the rent income, I only earn from my job salary. What form should i use? the 1700? And as what income? In the 1700, I found the row "Add: Other Taxable Income (Non-Business/Non-Profession)." I'm wondering if I should put it here. Or should I be using the 1701?

And how about the percentage tax?

Should I report these now? Or would these entail more problems for me due to its unofficial nature? I'm planning to register and issue official receipts starting 2012.

Please help. The deadline is fast approaching. Thank you! 

[bauer]

ken1088,

we are leasing a house from an individual owner for more than 5 years already. we are witholding 5% from the total monthly rental rate and remit it to BIR on a monthly basis.  We give a copy of the witholding tax deduction to the lot owner for her own report to BIR (income tax).  the owner of the lot does not issue any kind of receipt.

it is best that you should either consult an accountant or go to BIR and talk to the officer of the day.