BIR and TRAIN Tax Law

How to Compute: 8% BIR Income Tax Rate for Self-Employed and Professionals

The Philippine Bureau of Internal Revenue (BIR) released last May 2018 a new Revenue Memorandum Order (RMO) covering the availment of the 8% income tax rate option for professionals and self-employed individuals. The BIR memo (RMO 23-2018) provides clear guidelines and instructions on how to avail the 8% income tax rate, under the approved TRAIN …

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