The taxpayers who are qualified for the option to be taxed at 8% income tax rate can avail of the 8% income tax rate by signifying his intention to avail of the same as soon as possible through the filing of any of the following: l. For New Business Registrant (Individual) 1.a – BIR Form…
Continue ReadingHow can individual taxpayers avail of the option of 8% income tax rate in lieu of the graduated income tax rates and percentage tax?
porn videos
sean taylor.http://www.xvideoskostenlos.net natalie lust in stunning pov tube clip.
What are the salient features of both the graduated and the 8% income tax rates?
The features of Graduated Income Tax (IT) rates and 8% IT rates are as follows:
Continue ReadingWhat are included in the “Other Percentage Taxes” under Title V of the Tax Code. as amended?
Other than Sec. 1 16, the following sections are included under the said Title V: Sec. 117 – Percentage tax (P T) on domestic carriers and keepers of garages Sec. 118 – PT on international carriers Sec. 119 – Fax on Franchises Sec. 120 – Iax on overseas dispatch, message or conversation originating from the…
Continue ReadingWho are not qualified to avail 8% Income Tax rate?
The following individuals are not qualified to avail of the 8% Income Tax rate: a) Purely compensation Income earners; b) VAT registered taxayers, regardless of the amount of gross sales/receipts and other non-operating income exceeded the P3,000,000.00 VAT treshold; c) Non-VAT taxpayers whose gross sales/receipts and other non-operating income exceeded the P300,000,000.00 VAT threshold; d)…
Continue ReadingDo the employees need to update their tax status and submit documents thereon to BIR?
Employees are not required to update their tax status and submit documents thereon to the BIR.
Continue ReadingHow do the employers present compensation exempt from tax under the TRAIN law in BIR Form No. 1601 C (monthly remittance of withholding tax)? Will it be segregated from the schedule of MWEs?
Compensation exempt from tax shall be included as part of those non-taxable compensation and there is no need to segregate the same from the schedule of MWEs since their compensation is also non-taxable.
Continue ReadingFor those whose basic pay is more than the SMW but does not exceed P250,000, are other income like holiday pay, OT, NDP, hazard pay & others also tax exempt?
The employee is no longer considered an SMW since his basic pay is more than the the employee SMW. Thus. the amount of basic pay, OT pay, holiday pay, NDP pay and hazard pay shall be subject to income tax, and consequently, to the withholding tax on compensation.
Continue Reading
when they are checking whether your business is complying with its Tax obligations,