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adriane888

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Posts posted by adriane888

    WWE Wrestling/Usapang Wrestling

    in Martial Arts

    Posted

    My Sentimental favorite is Undertaker, unsung hero kung baga and it's high time na magka belt na siya. But don't we all love Batista- Philippine flag and all! :thumbsupsmiley:

    This will be the 1st time Undertaker will hold the world heavyweight champion..

    Wednight Bball 200/player

    in World of Sports

    Posted

    sign up sheet for march 14

    10pm @ metro badminton

     

    please bring white and dark jerseys

    1.pizzapandesal

    2.taken 1

    3.taken 2

    4.taken 3

    5.taken 4

    6. partyKC

    7. stiffler

    8. adriane888

    9. malufets

    10.jerzz

    11.angryblood

    12. jess

    13.josh

    14.porch

    15.jhejhe

    16.charles

    17. pine (with warning)

    18. chris (with warning)

    19. west "d shaolin"

    20.Boyette

    21.Eugene

    22.bjorn

    23.jansen

    24.asher

    25.johny

     

    di raw makakalaro sila stonerockbato and christian

     

    See you all mamaya

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    mga sir, salamt sa mga reply nyo regarding my inquiry.

     

    sir adriane, what do you mean by fringe benefit tax? is this tax different from income tax? i'm not in a rank and file level, so how's the computation for the allowance tax?

     

    one more thing, is there any other legal way to lessen if not eliminate the tax for the fix allowances/benefits?

    submit reciepts under your company name...

     

    FBT is tax on fringe benefit given to non rank and file employee such as company vehicles and the likes.. mas malaki po ang tax if FBT compare with withholding tax kasi you hva eto gross up the value.. hirap explain kasi masyadong technical..

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    hello mga tax expert, just have some question regarding gasoline allowance benefits, paano ba computation ng tax nito, according to our accounting, since we don't provide receipt, the 15k(fix) monthly gasoline allowance will be added in the basic monthly salary for tax computation. meaning, our monthly gross income will be basic salary + gasoline allowance, tama ba to?

    Depende yan mate.. if your not a rank and file employee that will be subject to fringe benefit tax.. however if your a rank and file employee, yes that might be added to your additional compensation.. Control kasi ng accounting dept nyo yan yung pag ask ng receipt... dami ka naman makukuhaan ng receipt eh.. kausapin mo yung gsoline boy dyan kung san ka nagpapagasolina at ask him na mag ipon para sayo ng receipt.. then bigyan mo ng P100 tuwa na yun...

    Wednight Bball 200/player

    in World of Sports

    Posted

    players for march 7

    10pm @ metro badminton

     

    please bring white and dark jerseys

     

    1.pizzapandesal

    2.taken 1

    3.taken 2

    4.taken 3

    5.taken 4

    6. partyKC

    7. stiffler

    8. adriane888

    9. malufets

    10.jerzz

    11.stonerockbato

    12.chris

    13.pine

    14. angryblood

    15. sikosci

    16. Boyette

    17.porch

    18.jeje

    19.jhejhe

    20.charles

    21.jansen

    22.yael

    23.jason

    24. teio

    25.masterM (di na daw sya makakalaro)

    sign up sheet closed

    waiting list

    1.

    2.

    3.

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    How about in my specific case? Commission salesman lang ako. I have no company. only myself as a salesman. No sales = no commissions or money. Would appreciate the advice on estimated charges. Can I just prepare this on my own?

    You don't need to have a cpa report to accompany your itr since you are earning only bny commision as well as you do not have sales...

     

    No Financial statement is required to file you just need to file your itr on or before April 15...

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    I need Opinions...

     

    Company A is a Domestic Corporation

    Company B is a Non-Resident Foreign Corporation

    Company C is another Domestic Corporation

     

    Company A engaged Company B's services to construct a special security device within Company A's premises.

    Company B provided the materials needed, whereas Company A properly paid the necessary import duties.

    Company B contracted Company C to do the construction work.

    Company B never went to the Philippines.

    Company B billed Company A for all the costs incurred in constructing the security device.

     

    Question:

     

    Should Company A withhold 35% from the income payments earned by Company B and report it under ATC Code 230 under BIR Form 1601F?

    Tama po.. that is final withholding tax...

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    Thanks, Adriane888. I appreciate the advice.

     

    You are right. I'm not an employee of the said company. Just a commission salesman. No benefits either, no SSS, just the withholding 10% and allowance for transpo and cellcards.

     

    Just to ask some more questions if ok lang? 2 years (2004 to 2005) ago, hindi ako umabot ng P60K in a year. In those years, hindi rin ako nagfile ng ITR. Will I be penalized for not filing my ITRs? Commissions for '04 was P0.00 and '05 was P50K. Can I file late returns for '04 and '05?

     

    For last year '06, I got involved with a foreign company selling hardware again. This pertains to your last paragraph below. There were no withholding tax withheld, because they are a foreign based company. They give allowances for transpo and cellcards, also. I received P151K in commissions last year remitted to my bank account. Following your advice, I will file and pay my ITR by the 15th April.

     

    Thanks to this forum, correct advice needed by small businessmen are attended to by fellow members. Thanks, again, Adriane888.

    Yap you will be penalized of 25% of your tax due if there will be.. otherwise you will just be charged by late filing maybe P200 to P1K if there is no tax due.

     

    Yes you can still file for late filing... although normally the BIR does not really audit individual unless you are known like goma and Juday... you will not use your ITR for any purposes such loan in banks and transfer property in your name.. i suggest (suggestion lang po hah) antayin mo nalang makita ng BIR... pero if your honest enough and as a good citizen pwede ka mag file ng late filing..

    WWE Wrestling/Usapang Wrestling

    in Martial Arts

    Posted

    malamang magkaroon ng fued si shawn michaels and Cena.. kasi bago mag royal rumble sinabi na ni hbk that he is gunning for the heavy championship belt... tingin ko lang hah.. Mamaya meron silang tag team match with Cena vs Rated rko and this is for tag team championship...

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    Manager63,

     

    I suppossed your not an employee of the said company??

     

    Anyways, the company is right to withhold 10%.

     

    ON your 2nd question,, no you still need to file your ITR even if you did not reach P60K per year. however, if you are an employee and your receiving P60K or below, you have the option to inform your employer not to withhold taxes on your salary.

     

    Please note that not withholding taxes means that you are not anymore obliged to file and pay tax. You are still required to file your ITR on or before April 15

    BIR Concerns

    in Money, Finance, Investments, Crypto, Stocks, Banking, Business, Loans

    Posted

    How do you compute the income tax witheld for employees?

     

    For example I earn 17,000.00 a month

    it defends on your status.. the computation will be based if your single, head of the family, married with dependents.

     

    There is a computation table available in the BIR revenue regulation 2-98(as annex) on how you will compute your tax either you being paid on a daily, weekly, semi-monthly or monthly.

     

    example computation if your single and being paid on a monthly:

     

    P13,333 tax fied at P1,875.00

    3,667 at 25% 916.75

    -----------

    Monthly w/tax P2,791.75

    ======

     

    Secure a copy of the revenue regulation from the BIR or access the bir website at www.bir.gov.ph

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