If the individual’s service is not covered by the definition of a professional under RR No.8-2018 and does not fall under Section 2.57.2(A) of RR No. 2-98. As amended by RR No. 11-2018, the same shall be subjected to 2% income tax withholding.
Continue ReadingIn RR No. 8-2018, self-employed individual is defined/classified as professional or non-professional. In RR No. 11-2018. Only professionals have the rates of 5% or 10% what is the withholding tax rate for the non-professionals?
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If the Job order personnel received only P6,000 or less per month, do they need to execute sworn statement under Annex B-2?
Under the above scenario, since the income shall be less than P250,000.00 per annum, they need to execute the sworn declaration using the format of Annex B-2 so that no income tax withholding shall be made by the lone income payer/withholding agent on the stated income payment.
Continue ReadingAre the individuals under a contact of service or job order arrangement exempt from income tax under the TRAIN law?
No. In general, all individuals rendering service are subject to income tax.
Continue ReadingWhy do taxpayers need to submit a copy of the COR together with their Sworn Declaration to their Withholding Agent/Payer?
The copy of the COR is required for the withholding agent/payer to determine if the payee is actually registered with the BIR, and if payee is non- VAT taxpayer who may be qualified to avail of the option to be taxed at 8% flat income tax rate if gross sales/ receipts and other non-operation income…
Continue ReadingWhat are the applicable withholding taxes and corresponding rates for individuals hired under a Job Order or Contract for service scheme?
Hired by Public or Government Sector. If the income-payer/withholding agent is a government entity, it shall withhold bot income and the applicable business taxes, if any. However, if the payee’s annual gross receipts will not exceed P250,000.00 from a lone payer, the income payments may be exempt from both withholding tax on income upon submission…
Continue ReadingIs an individual under a contract of service or job order arrangement considered self-employed?
Yes, an individual under a contract of service or job order arrangement is considered self-employed.
Continue ReadingWhen does a taxpayer use the graduated income tax rates or the option 8% income tax rate?
Applicability of IT Rates per Individual Taxpayer’s Income Classification:
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