Are you a mixed income earner? Do you receive income simultaneously from compensation or from self-employment or business or practice of profession? If yes, then here are the applicable BIR rules as regards your tax obligation under the approved TRAIN law. The relevant tax rules
How much is the new withholding tax rate on incomes of self-employed and professionals and how to compute the income tax that they are supposed to pay? We explain the answers in this easy-to-read guide below. Under the TRAIN law or Republic Act (RA) No.
The Bureau of Internal Revenue (BIR) has released the implementing guidelines related to Withholding Taxes on Compensation Income, as mandated in the TRAIN bill signed into law by Pres. Rodrigo Duterte. Here’s a copy of the entire BIR Revenue Regulation. You may also download below
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
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
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
Do you want to know how much your new take-home pay is under the approved TRAIN tax reform law of the Philippines? We provide below an income tax table which shows: (1) how much tax is currently being deducted from your salary per month; and
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