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Forex Taxes in the Philippines

gavinogaw · 24 · 12251

gavinogaw

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on: Jan 12, 2012, 03:10 PM
Hi,

May question po ako sa mga experts dito about our tax laws. Ang earnings ba sa Forex trading is taxed here in the Philippines? If so, what are the legal ways to avoid it?

Thanks.  :thankyou:


ferrariEverest

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Reply #1 on: Jan 12, 2012, 03:33 PM
ang alam ko, walang batas tungkol sa forex trading sa Pinas.
walang taxes ang trades natin.

sa ibang bansa, may taxes ang trading in general, pero may perks sila gaya ng pwede mo reimburse gastos mo (trading-related expenses gaya ng trading seminars, trading PC, etc). d ako sure ha, pero that's the idea.


gavinogaw

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Reply #2 on: Jan 12, 2012, 03:58 PM
Ay ganun pala? Kasi iniisip ko, paano kung malaki na ung funds mo sa Forex tapos ipina-bank wire mo yun sa banko. Di kaya magulat sila? Hehehehe... Stated po ba specifically sa law natin na no taxes tayo sa Forex?

Salamat!  :thankyou:


BFXGeneralConsultant

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Reply #3 on: Jan 12, 2012, 04:06 PM
Greetings Sir GAVINOGAW...

Bank transfer fee & money convertion lang nababawas.. NO TAX..
Sunod lang sa limit order.. ng wire transfer..

Maganda rin ang LR.. unlimited amount transfer.. pero hanap ka pa rin changer.. my limit pa rin magkano kaya nila for encashments... hehehe

Respectfully yours,
BFXGeneralConsultant


ferrariEverest

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Reply #4 on: Jan 12, 2012, 04:22 PM
Sir gavin,
may AMLA  tayo. (Anti Money Laundering)
yun ang dapat intindihin mo, para low profile kalang pagdating ng panahon.

walang forex trading law satin, hence, walang forex taxes.


gavinogaw

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Reply #5 on: Jan 12, 2012, 05:03 PM
So dapat pag mag babank wire tayo lagi, dpat maliit lang ang halaga para iwas sa AMLA diba? Pasensya na kung medyo makulit ako ha... hehehehe... Newbie trader here...  :D


ferrariEverest

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Reply #6 on: Jan 12, 2012, 05:09 PM
deposit & withdrawal ang pwede icheck. dko sure kasi wala pa naman ako experience jan.
ang alam ko lang may 'limit', pag lumagpas ka sa 'limit', baka imomonitor ka na ng awtoridad. monitor lang naman. :D
since legit ang trading, wala naman problema.

wag ka mag-alala, Sir. makulit din ako :D


BFXGeneralConsultant

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Reply #7 on: Jan 12, 2012, 05:19 PM
deposit & withdrawal ang pwede icheck. dko sure kasi wala pa naman ako experience jan.
ang alam ko lang may 'limit', pag lumagpas ka sa 'limit', baka imomonitor ka na ng awtoridad. monitor lang naman. :D
since legit ang trading, wala naman problema.

wag ka mag-alala, Sir. makulit din ako :D

P500k per day transaction only.. yan ang limit.. kapag lumapas ka dyan, tatawagan ka ng bank manager.. na limitahan lang, kapag tuloy ka pa rin sa malalaking tansaksyon.. irereport ka na ng bank sa BIR.. hindi ko lang alam sa ibang bank kung mas malaki pa limit nila per day..


jmiyake

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Reply #8 on: Jan 17, 2012, 10:01 AM
So dapat pag mag babank wire tayo lagi, dpat maliit lang ang halaga para iwas sa AMLA diba? Pasensya na kung medyo makulit ako ha... hehehehe... Newbie trader here...  :D

It is stated naman kung saan nanggaling ang pera mo (transaction details). It is up to you to declare (or not) as personal income. As ferrarieverest said, you can easily offset it with corresponding expenses...be creative


BFXGeneralConsultant

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Reply #9 on: Jan 17, 2012, 10:41 AM
It is stated naman kung saan nanggaling ang pera mo (transaction details). It is up to you to declare (or not) as personal income. As ferrarieverest said, you can easily offset it with corresponding expenses...be creative

I can advice, go to your bank.. talk to your bank manager how much will be the daily limit for daily transaction.. huwag lang po hihigit sa limit para hindi magkaproblema..
My personal bank gives me a limit P500,000 transaction per day..

Respectfully yours,
BFXGeneralConsultant


gavinogaw

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Reply #10 on: Jan 21, 2012, 05:18 PM
It is stated naman kung saan nanggaling ang pera mo (transaction details). It is up to you to declare (or not) as personal income. As ferrarieverest said, you can easily offset it with corresponding expenses...be creative

So sir, any ideas kung anu ang sasabihin naten sa bank pag may pumasok na $1,000 sa dollar account natin? Ala ako maisip sir... hehehehe...


ferrariEverest

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Reply #11 on: Jan 21, 2012, 05:25 PM
wala ka sasabihin. it's none of their business :D
masaya sila syempre kasi client ka nila. :D


jmiyake

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Reply #12 on: Jan 22, 2012, 03:53 AM
So sir, any ideas kung anu ang sasabihin naten sa bank pag may pumasok na $1,000 sa dollar account natin? Ala ako maisip sir... hehehehe...

pag nag tanong, just say investment from abroad...pag nag tanong ulit "what kind"? pwede mong sabihin you were selling something online...

Post Merge: Jan 22, 2012, 03:54 AM
wala ka sasabihin. it's none of their business :D
masaya sila syempre kasi client ka nila. :D
This is also true...pag nakalusot, walang problema...
« Last Edit: Jan 22, 2012, 03:54 AM by jmiyake »


zaragorath

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Reply #13 on: Jan 26, 2012, 11:01 PM
no such thing as money trail then? hehe, withdrawing 1 million in a month from 1 bank, and the money coming from an outside account is possible then?


jmiyake

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Reply #14 on: Jan 27, 2012, 06:27 AM
no such thing as money trail then? hehe, withdrawing 1 million in a month from 1 bank, and the money coming from an outside account is possible then?

I doubt you will make 1 million in a month with just a 3-digit initial capital...

Money trail is knowing where or what kind of business the money comes from. Lifestyle checks would trouble you if you are paying just 1000 pesos in taxes but spends 1 million a month



 


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