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adriane888

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Posts posted by adriane888

    BIR Concerns

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

    Posted · Edited by adriane888

    Mate, in selling real estate property how do u compute for E-VAT and Capital Gains Tax? Thanks...

    Mate sensya na at nayon ko lang nakita ito..

     

    In selling real estate, such is subject to capital gains tax of 6%, VAT of 12% and DST of normally P15 for P1000. The base amount would be the zonal value or market value or selling price whichever is higher...

    BIR Concerns

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

    Posted

    hi,

     

    anyone knows how much ang penalty if di makaabot sa deadline ng filitng ng ITR? net loss naman yung business, pero ang alam ko kasi may administrative penalty pa rin na babayaran, tama ba? saka pwede bang BIR1701 at Income statement na lang ang ifile? No need na for signed opinion ng auditor at ng balance sheet? thanks!

     

    the business was registered under sole proprietorship format, 100,000 capital.

    If there is no payment, normally penalty is around P200 to P1,000 only. Actually if it is sole proprietor, there is sales limit (i just do not the amount- maybe approximately P550k to P1M) for you to be required to have an attached auditor's opinion.

     

    1701 is for salaried employee with other source of income.

    BIR Concerns

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

    Posted

    hey guys, reading this thread. it is very informative :) definitely great volunteer work from you great people.

     

    hope you don't mind me asking now,

     

    im planning to setup a web business(sole or corporate?). it is essentially a website wherein I act as a middleman between buyers and sellers. In the end, I get a percentage for their transactions like 10%. how should I go about registering the business and taxation? what category and what not to go about making the website legal and the necessary paperworks.

     

    hope you guys can help :) im sure others who are still into e-commerce or web dev would find this useful :) thanks a lot.

    Well, if your business will be a sole proprietorship, you need to register 1st at the DTI however if it is a corporation or a partnership, you need to register with the SEC, then you can proceed registering with local government then to the BIR..

     

    It will take us around 20 pages :P to discuss the whole procedure... pm me if you want to discuss it further... dont' worry free of charges :hypocritesmiley:

    WWE Wrestling/Usapang Wrestling

    in Martial Arts

    Posted

    The full backstage story on Randy Orton's WWE suspension

    Submitted by Brian Cantor on Saturday, April 8, 2006 at 6:37 PM EST

    Main-event WWE SmackDown! wrestler Randy Orton was suspended indefinitely by WWE (with a sixty day minimum) this past week following a major incident that only worsened his already poor backstage reputation.

     

    According to the Wrestling-Observer Newsletter, the final incident occurred at some point in Chicago—it is being called a "near disaster," and the feeling is that if Orton were not a top name, he would have been fired for his actions.

     

    But by no means was this an isolated incident. It was Orton's behavior that initially prompted WWE management to give Kurt Angle the title vacated by Batista.

     

    And, while Orton avoided a suspension due to being booked for the WrestleMania main-event, an incident after No Way Out forced WWE to nix giving him the title at the 'Mania pay-per-view.

     

    These individual incidents only increased management's disapproval of Orton's behavior; he was specifically notorious for disrepecting female WWE workers.

     

    Although the feeling is that by posting news of his suspension, WWE is practically confirming Randy Orton will come back, other insiders are not so sure that is the case and are even less sure that it will be in sixty days. There is already feeling within WWE that SmackDown! needs to create a new top heel; a returning Ken Kennedy could receive the chance to fill that slot.

    I thought Orton was suspended after WM22... why is that he had a match last friday with REy mysterio.. kelan ba effective ang suspension nya.>

    BIR Concerns

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

    Posted

    hey i have a problem

    Unfortunately my TIN number was acquired very "unprofessionally" for my drivers license.( this was a few months  before the clean-up sa LTO, )

    can i renew my TIN number? what do i do?

    There is no such thing as renewal of TIN number.

     

    Once you already secured your TIN illegally or llegally that would be your TIN for life..

     

    You can update your information and exemption but you cannot change or renew your TIN.

     

    Please note that possessing more than 1 TIN number is illegal and punishable by law

    BIR Concerns

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

    Posted

    good mga bossing

     

    i am married for 3 years, just started working here in manila sept of 2004

     

    i provided the company all requirements including my marriage cert and birth of my daughter

     

    just noticed last jan that tax their deducting to my salary is not for married taxpayer

     

    (ok sana, di alam ng mga chikababes...joke). so is asked our hr and they told me to transfer rdo, w/c

     

    is in the province to rdo in makati.

     

    i have a friend who is working for the BIR in our province, she is asking me a document from my office

     

    so i ask our company's hrd if i need to fill up a document/form but they said that i just need to inform

     

    BIR in the province to transfer RDO to RDO makati.

     

    im really confuse, i know a lot about computers but not taxes.

     

    i'll try to check their website, but can you guys pls. try to help me w/ dis RDO stuff..

    Since you transferred a place or work.. you also need to transfer your registration.. because you cannot update your registration (ex single to married) without transferringyour registration to your current RDO.

     

    What do you need to do is:

     

    1.. Fill up a BIR form (i think it is BIR form 1905 ) then submit it to your previous RDO and have it stamp... then submit it to your current RDO to be them to register your account.

     

    2. Fill up again a BIR form to update your exemption I think it is BIR form 2305.

     

    Supposedly it is the responsibility of your HR dept to have you signed or filled up the transfer of your registration at the time of your start of work.

    WWE Wrestling/Usapang Wrestling

    in Martial Arts

    Posted

    Next time na muna chsimaks, peeps. Busy ako

     

    There are plans for the guys at Solar Entertainment to broadcast live the Wrestlemania 22 just like what they do with the Pacquiao fights. Most likely, the venue (again) would be at SM Megamall, and if you wanna watch, you gotta shell out a minimum of P300

    Hmmm!! interesting.. hindi kaya late na yung promotion nila... kasi ilang days na lang wrestlemania.. Pasg tuloy... mukhang eto yung magandang chance for grand eb ng mga MTC WWE fans...

     

    Mate update us for the development!!

     

    Miz ko na chizmax mo!!

    BIR Concerns

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

    Posted

    hi BIR experts!

     

    a friend of mine has a TIN because he was employed before. the problem is that he's been unemployed for quite some time now (5 years i think) and he's forgotten his TIN and can't find his documentation (yet).

     

    so while he's turning his house upside down in finding his documentation, i wanna help him. my question is how can one know his/her TIN if he/she has forgotten it?

     

    your replies will be very much appreciated :)

    You can go to any BIR office and have it check in thier computer data base..

    BIR Concerns

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

    Posted

    hi BIR experts!

     

    a friend of mine has a TIN because he was employed before. the problem is that he's been unemployed for quite some time now (5 years i think) and he's forgotten his TIN and can't find his documentation (yet).

     

    so while he's turning his house upside down in finding his documentation, i wanna help him. my question is how can one know his/her TIN if he/she has forgotten it?

     

    your replies will be very much appreciated :)

    You can go to any BIR office and have it check in thier computer data base..

    BIR Concerns

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

    Posted

    i have another question BIR gurus. wer planning to close a small business. the past 3 years of the operation of the company was not that goood. its even breakeven or sometimes loss but there are time na may onti kita. so from 3 years ago till now hindi na po nakabayad kc ala naman talagang kita na eh.

     

    pag nag close na ba ang company mag kakalkal pa ba sila ng papers ng compny? do we really have to apply for closure or let it die in a natural way? i meant kung 10years na hindi na mag remit meaning close na talaga?

     

    ano naman ping disadvantage noon?

     

    salamat po!

    Syempre ang legal way is to apply for closure with the DTI if it is sole proprietorship or with SEC if it is corporation and submit ur business closure with the BIR to get tax clearance...

     

    Pero kung maliit lang naman and maybe BIR might not even know that ur business exist... you can let it die naturally... kasi ang mind set ng mostly BIR personnel... pag walang masyadong delihensya... they don't bother to check it eh...

    BIR Concerns

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

    Posted · Edited by adriane888

    Hindi na siguro pag-aaksayahin pa ng Bureau na i-assess iyan sakaling may deficiency...

     

    Masyadong maliit ang inflow, pero ang collection costs ay napakalaki... :lol:

    Actually the BIR assessment is not that really a concern, ang issue dyan eh, whenever that particular taxpayer needs to present his ITR as a requirement by any agencies or bank for whatever purposes yan ang magiging issue... you will never never know we will you be needing the presentation of such..

    BIR Concerns

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

    Posted

    approved na po ba yun wala ng tax ang mga minimum wage earner?

    Actually misleading yung press release ng government na exempt na sa tax ang mga minimum wage earner eh.. the truth is... they are only exempt from withholding tax... meaning.. every month or every payday ng mag minimum wage earner are not subject to withholding tax.. however, at the end of the year.. or on or before April 15, they are required to file and pay the income tax..

     

    They are only exempt from withholding tax but still required to pay their income taxes on or before April 15 the following year..

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