The Philippine tax reform bill, known as TRAIN or Tax Reform for Acceleration and Inclusion, was signed into law by Pres. Rodrigo Duterte on December 19, 2017. The tax implementation of TRAIN began on January 1, 2018. In this article, we focus on the approved Personal Income
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.
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 new personal income tax rates are now in effect starting January 1, 2018 after the approval of the TRAIN tax reform law of the Philippines. Differences of TRAIN vs. Old Income Tax Tables Compared to the old tax rates which were in use until the
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 answer below. (UPDATE): The BIR’s Revenue Regulations RR 8-2018 contains the implementing guidelines on how to compute income taxes for Mixed
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 returns. If you’re able to make your own Income Tax Return (ITR) because you fully understand taxation laws, then good