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Category Archives: BIR and TRAIN Tax Law

OFWs exempted from paying Travel Tax, Doc Stamps, Airport Fee

Good news to all Overseas Filipino Workers (OFWs)! All OFWs are now exempted from paying documentary stamp taxes (DST) on remittances, travel tax, and airport fee as the new Migrant Workers Act or Republic Act 10022, recently lapsed into law without President Gloria Macapagal-Arroyo’s signature.

Income from scams and bribes are also taxable

Whether it’s earnings from online scams, fraud Multi-Level Marketing programs, and shady High Yield Invesment Progrqams (HYIP), as long as it’s considered income, it’s taxable. Any monetary benefit received from an activity, illegal or otherwise, normally becomes part of one’s taxable income. That’s from an

Are income from Mutual Funds and UITFs taxable?

Question: Do I need to pay taxes on my earnings once I redeem my Unit Investment Trust Funds (UITFs) or shares of mutual funds? Answer: No, as long as proper taxes have already been collected prior to the redemption of your UITF participation. That’s according