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Taxes applicable for MLM, online earnings, sales people and free lancers

mjtfernandez · 2 · 803

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Are you confused on what taxes you are going to pay and how?

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mjtfernandez

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Hey guys,

I have been receiving several inquiries on taxes applicable to online earnings, MLM, sales people and free lance professionals.

It's simple... the BIR website has recently launched its latest website www.knowyourtaxes.ph. In the video you can see what taxes needs to be paid by free lancers. They have this RFP which means Register... File... and Pay...

Register means that you should go to your nearest RDO and register your business or profession. In my case my business name is my name itself Mark Joseph T. Fernandez since I am a professional financial advisor/free lancer.

Request for your certificate of registration or COR. It wills state their what taxes you need to pay. For free lancers we pay quarterly income taxes and annual income taxes. We are also required to issue receipts for the commissions we receive. We then are required to total the gross receipts and pay the corresponding VAT (for gross receipts above P1.9M)  or percentage taxes (for incomes below P1.9M).

File your forms on time.

Pay your taxes on your nearest Authorized Agent Bank.

For more info I suggest you just watch the video in www.knowyourtaxes.ph

In summary here are the taxes for free lancers:
-Quarterly Income Taxes (32%)
-Annual Income Tax (32%)
-Monthly Percentage(3%) Tax or VAT (12%)
-Annual Business Registration Fee (P500)
-Professional Tax Receipt (PTR)


wannabewealthy

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husay mo sir  :thankyou: :cool2:


 


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