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Category Archives: BIR and TRAIN Tax Law

BIR Computations: TRAIN Tax for Self-Employed and Professionals

If you are a professional or self-employed individual receiving income purely from self-employment or your practice of profession, here are the updated BIR rules as regards your tax liability under the approved TRAIN law. The tax rules and sample computation are reiterated in Revenue Regulations of the

New Estate Tax under TRAIN (Sample BIR Computations)

Here’s everything you need to know about the new Estate Taxes under the approved Philippine TRAIN tax reform law. The Bureau of Internal Revenue (BIR) has released Revenue Regulations No. 12-2018, which contains the implementing guidelines related to the revised Estate Tax and Donor’s Taxes to

Donor’s Tax in the Philippines under TRAIN

Computing for Donor’s Tax is now simply 6% under TRAIN, but do you know everything there is to know when computing for this tax? The Bureau of Internal Revenue (BIR) has recently issued the implementing guidelines covering Donor’s Taxes in the Philippines, applicable starting 2018

TRAIN Tax Rates on Passive Income in the Philippines

The newly approved TRAIN tax reform law also adjusted the tax rates on certain passive income, in addition to revised personal income tax rates and new taxes imposed on oil, sugary beverages, tobacco, mining, etc. Last February 2018, the Bureau of Internal Revenue (BIR) released

Sample Tax Computation: Minimum Wage Earners under TRAIN

Here is a sample computation showing the applicable tax rules for Minimum Wage Earners (MWE), as reiterated in BIR Revenue Regulations 8-2018. Tax Rules for Minimum Wage Earners From the Bureau of Internal Revenue’s (BIR) RR 8-2018: Minimum wage earners shall be exempt from the

VAT exemptions under Philippine TRAIN Tax Law

What are VATable and VAT-exempt items under the recently approved Tax Reform for Acceleration and Inclusion or TRAIN Law implemented starting 2018? To recap, the TRAIN tax reform program includes various provisions that touch on reducing personal income taxes while increasing taxes on products such as sweetened