When buying and selling real estate properties in the Philippines, the final purchase price is not and should not only be the relevant amount.
Other taxes and fees charged on the transaction must be considered by both the buyer and seller because these costs affect the total transaction price.
Filipinos working abroad, also known as Overseas Filipino Workers (OFW), do not lose their basic rights as citizens of the Philippines despite working and being physically present in another country.
We recently received an email from one of our readers asking how to determine the interest earnings on his time deposit account. In response, we explain below how exactly it’s being computed.
Yesterday, I got my Google Adsense earnings via Western Union. For a change, though, I opted to pick up my payment at a branch of the Bank of the Philippine Islands (BPI).
Yes, for those who do not know it yet, you can go to BPI or any other local bank to get your Western Union payments.
Got my Google Adsense earnings via Western Union last week and like what we reported here last month, they are now charging the Documentary Stamps Tax on all incoming remittances.
The deduction was exactly 0.15% of my payment balance. It’s still not that much — just P1.50 for every P1,000 — but it’s still money I could have spent for myself.
The good news is that the additional 0.15% tax on all incoming overseas remittances was supposed to start May 30, 2008 but, until now, this has not been implemented.
The bad news is that the collection of this tax will start anytime soon.
Last week when I picked up my Google Adsense earnings from Western Union, they told me that the additional Documentary Stamp Tax (DST) tax on remittances will start “sometime this June.”
