BIR Concerns

[jeckyl]

Your welcome, in-style.

 

You are right not to depend too much on your finance guy. I know of few instances where the finance guys squealed on their clients (remember Al Capone, Enron, Worldcom and most of tax informants). A friend who once worked with BIR told me that when caught red handed many of the finance people readily cooperate to cut a deal at the expense of the business owner.

 

This is one compelling reason why business people should try to understand the basics of taxation.

[shmilyso]

i need help on this:

 

anyone please!?

 

how do i compute for the monthly tax deduction for every employee?

what form should i use to file the tax?

 

advance thanks for any help...

[Guest kicx]

i need help on this:

 

anyone please!?

 

how do i compute for the monthly tax deduction for every employee?

what form should i use to file the tax?

 

advance thanks for any help...

<{POST_SNAPBACK}>

 

 

i think there's a table that bir should provide for you to determine how much tax deduction...

 

as for the form, 1601-C

[Guest kicx]

jackl, thanks for taking time to answer my query.

it's good to read about these details.

i dont want to just depend on my finance person.

now i'm re-learning these things. 

thanks again.

<{POST_SNAPBACK}>

 

 

Your welcome, in-style.

 

You are right not to depend too much on your finance guy. I know of few instances where the finance guys squealed on their clients (remember Al Capone, Enron, Worldcom and most of tax informants). A friend who once worked with BIR told me that when caught red handed many of the finance people readily cooperate to cut a deal at the expense of the business owner.

 

This is one compelling reason why business people should try to understand the basics of taxation.

<{POST_SNAPBACK}>

 

 

and we should also be careful if we are paying in cash, baka mamaya gamitin ng finance guy mo yung money.

[Cal!]

hey guys!

 

can anyone help me out on the whole process of getting a TIN ID/card?

 

thanks!

Edited October 13, 2005 by Cal!

[badsekktor]

guys ask lang ako about tax! if a person earns about 15,000 pesos and is single. the income is non-VAT. salaried type of compensation. declared single, and the only deduction that he gets other than the income tax is the SSS contribution and medicare, how much should be deducted from the salary?

[council]

guys ask lang ako about tax! if a person earns about 15,000 pesos and is single. the income is non-VAT. salaried type of compensation. declared single, and the only deduction that he gets other than the income tax is the SSS contribution and medicare, how much should be deducted from the salary?

<{POST_SNAPBACK}>

 

approximately 2138.75 monthly tax

[in_style]

question po..... when is the deadline/cut-off for the 3rd quarter?

thanks in advance!

 

btw, thanks to all those who reply to our questions.

you guys are truly a blessing!

[badsekktor]

guys ask lang ako about tax! if a person earns about 15,000 pesos and is single. the income is non-VAT. salaried type of compensation. declared single, and the only deduction that he gets other than the income tax is the SSS contribution and medicare, how much should be deducted from the salary?

<{POST_SNAPBACK}>

tnx guys!

[oliverjohnholmes]

what happens now that RA 9337 has been upheld by the SC as constitutional and there is no bar to its implementation?

[boibastos]

what happens now that RA 9337 has been upheld by the SC as constitutional and there is no bar to its implementation?

<{POST_SNAPBACK}>

 

PAGCOR is screaming bloody murder that they're now liable both for income tax as well as their 10% VAT liability.

[oliverjohnholmes]

 

is there a way to soften the impact of the 70% input tax credit ceiling in the new EVAT law? I mean when you get charged 100% VAT if you are the user, but as a supplier you can only credit 70% of your input VAT. i know there is no pass of tax provision, but wouldn't that just be double taxation? or did i just read it wrong altogether?

 

just asking...

 

[in_style]

3rd Quarter ITR?

60 days after ng Taxable 3rd Quarter...

If your company uses the Calendar Year, start counting on October 1. That's day 1!

 

Ang problema lang kasi dito ay HINDI KAYO MARUNONG MAGBILANG! ... the right way! :goatee:

 

Counting includes SATURDAYS, SUNDAYS AND HOLIDAYS!

Prublemahin mo na lang yung last day!

 

If the last day falls on a Saturday or Sunday, deadline will be on Monday. Provided that the said Monday is not a Holiday..

 

On the other hand, if the last day falls on a Holiday, deadline will be on the succeeding Business Day!

 

Ahyos?...

<{POST_SNAPBACK}>

 

 

thanks alot, dude!

i took notes.

 

:thumbsupsmiley:

[oliverjohnholmes]

Saan yung double taxation dun?

<{POST_SNAPBACK}>

 

i still am to receive a formal copy of RA 9337 and the implementing guidelines. well my mistake on the terms on double taxation. i have read summaries and there is no double taxation. thanks shadowfang for pointing it out.

[oliverjohnholmes]

i still am to receive a formal copy of RA 9337 and the implementing guidelines. well my mistake on the terms on double taxation. i have read summaries and there is no double taxation. thanks shadowfang for pointing it out.

<{POST_SNAPBACK}>

 

my main concern is Sec 4.110-7 of RR 16 2005.

 

if your input tax exceeds the output tax for the quarter, then the allowable credit ceiling of 70% shall apply. the difference remaining would be carried over to the next quarter. now, isn't this double taxation as a net effect (limitation of creditable amount) and the final year end VAT payable by virtue of the carrying over of the increments from previous quarters payment of a tax twice over?

 

that is why i asked if there is double taxation, the increments, by not being allowed to be credited at the time of transaction (which after all what EVAT is, a transactional tax) is a tax in itself, and the same increment difference carried over to the year's end for disposition (which by effect is payment by the large taxpayer) a form of double taxation?

 

i had just received the formal copies now, just seeking input...