Here’s a copy of the Revenue Regulation released by the Bureau of Internal Revenue (BIR) this February 2018 dealing with updated tax rates on petroleum … Read More
What are the applicable tax rules for mixed income earners under the approved Tax Reform for Acceleration and Inclusion or TRAIN? You can find the … Read More
The Bureau of Internal Revenue (BIR) has released Revenue Regulation No. 8-2018 (RR 2018) which details the implementing guidelines governing the Income Tax provisions of the … Read More
BIR Revenue Regulations No. 3-2018 Issued on: January 5, 2018 Providing for the Revised Tax Rates on Tobacco Products Pursuant to the Provisions of Republic … Read More
Year after year, April 15 is a date millions of Filipinos dread. It is because this date is the annual deadline to file income tax … Read More
Filipinos working abroad, also known as Overseas Filipino Workers (OFW), do not lose their basic rights as citizens of the Philippines despite working and being physically present in another country.
Got my Google Adsense earnings via Western Union last week and like what we reported here last month, they are now charging the Documentary Stamps Tax on all incoming remittances.
The deduction was exactly 0.15% of my payment balance. It’s still not that much — just P1.50 for every P1,000 — but it’s still money I could have spent for myself.
The good news is that the additional 0.15% tax on all incoming overseas remittances was supposed to start May 30, 2008 but, until now, this has not been implemented.
The bad news is that the collection of this tax will start anytime soon.
Last week when I picked up my Google Adsense earnings from Western Union, they told me that the additional Documentary Stamp Tax (DST) tax on remittances will start “sometime this June.”
