BIR Concerns

[johndoe]

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.

[lady_viktoria]

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.

[adriane888]

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.

<{POST_SNAPBACK}>

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 to discuss the whole procedure... pm me if you want to discuss it further... dont' worry free of charges :hypocritesmiley:

[adriane888]

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.

<{POST_SNAPBACK}>

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.

[in_style]

after the april 17 deadline for 2005 ITR,

is there other extension?

 

if u continue to file, will there be any surcharge?

 

also, is it mandatory that ur chosen cpa

get the services of an auditor?

 

thanks.

[Mandrake]

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   to discuss the whole procedure... pm me if you want to discuss it further... dont' worry free of charges :hypocritesmiley:

<{POST_SNAPBACK}>

 

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

[transcience]

whenever we file our itr's every year, we have to secure a residence certificate, right? the amount we pay varies on our gross taxable income. effectively, the gross taxable income is taxed the second time around which is so unfair!

 

the phils is one of the heavily taxed countries in asia. my counterparts in singapore, hk, etc are paying less than 10% income tax. poor little me pays 3 times as much. again, so unfair!

[jeckyl]

The Philippines may have one of the highest tax rates in Asia, but, the least effective tax in terms of tax to GDP ratio. Marami lang di nagbabayad ng tamang tax kaya yung mga madaling patawan ng buwis katulad ng mga de sueldo ay silang ang umaatang ng mabigat na buwis.

 

Bakit ba dito nagpupuntahan ang maraming intsik para magnegosyo? Kasi konti lang bayad nilang buwis.

 

Tax on sale of real estate will depend on the business of the seller and the character of the property. Kung realtor ang seller malaming di capital gains ang bayad nya kundi regular income tax at subject sa VAT. Pag one time sale lang ng sariling bahay at lupa, malamang capital gains tax at walang VAT.

[adriane888]

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

<{POST_SNAPBACK}>

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...

Edited June 7, 2006 by adriane888

[jigger_horny]

a very informative thread .. !!

[in_style]

m in the look out for a cpa for consultation.

there might be someone here who can refer or be of help.

someone who does not charge an arm and a leg.

please send me a pm. thanks.

[Dr_PepPeR]

i'm not sure if there is a thread about tax concerns (i looked and there seems to be none),

so i am opening this one.  i hope there are members who either work for BIR or there

are finance people who are experts about the much controversial topic of taxes.

 

it's always in the news... vat, wht, e-vat, entertainment tax and all.  once in awhile,

BIR comes out with news articles in the dailies explaining lengthily what these taxes are.

i personally wish the explanation is brought down to simple words that can be understood

by the common people.  what are these taxes for?  why does the rates keep on moving up?

more importantly, how do we compute these taxes?  before, vat was computed as 10%

of the total amount.  is it still the same?  what about the entertainment tax?  the people from

television and movies pay wht and entertainment tax? 

 

i am opening this thread hoping that some good souls there can shed light to simple

tax questions that we have. 

 

thanks.

<{POST_SNAPBACK}>

 

What kind of explanation are you looking for? Taxes are taxes, people expect the government to spend for this and that and that money has to come from somewhere, other than simply printing more money (which the government does, by the way). The e-vat was conceived as a better way to collect taxes that come from the sale of goods and services. Vat is an acronym for value added tax while the E stands for expanded. Initially only certain goods and services were subject to VAT but legislation expanded this to other goods and services not previously covered so they attached the word "expanded". The law provided for 10% EVAT but there was a provision that permitted the president to raise it to 12% the next year if certain conditions were met and which indeed occurred so the EVAT is now 12%. Entertainment tax is a specific tax, which means that a certain rate and only certain things are subject to this tax. I really don't know what you mean by people from television and movies but if they derive income, then they are subject to income tax. Hard to discuss this because I simply don't know where to start. When I studied law, taxation was a 5-unit course and at the end the only things I remembered were the concepts.

[adriane888]

m in the look out for a cpa for consultation.

there might be someone here who can refer or be of help.

someone who does not charge an arm and a leg.

please send me a pm.  thanks.

<{POST_SNAPBACK}>

You dont have to be cpa to be a tax expert...

[alexis_raynald]

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...

 

clarify ko lang sa capital gains tax di ba 7.5% na yun, correct me if i am wrong po, salamat

[game_fanatic]

Ask lang po ako regarding taxation. What if i registered our company already (SEC and DTI only, wla business permit, and bir). for months it was nearly non-existent, then all of a sudden nagkaroon po ako ng client. it went too fast. in two weeks, we had a deal and na-execute po ang services.

 

Come payment time, wala na po ako mapakita recepit. would it be valid if after na ng transactions ako makakuha ng business permit at BIR?

 

Things were so quick - overlooking on the permits, or a business merely inactive.

 

What should we do? Thanks po. Can we still have business permits and BIR registration, so we can also pay the company's dues.

 

Service oriented ang company.

[adriane888]

Ask lang po ako regarding taxation. What if i registered our company already (SEC and DTI only, wla business permit, and bir). for months it was nearly non-existent, then all of a sudden nagkaroon po ako ng client. it went too fast. in two weeks, we had a deal and na-execute po ang services.

 

Come payment time, wala na po ako mapakita recepit. would it be valid if after na ng transactions ako makakuha ng business permit at BIR?

 

Things were so quick - overlooking on the permits, or a business merely inactive.

 

What should we do? Thanks po. Can we still have business permits and BIR registration, so we can also pay the company's dues.

 

Service oriented ang company.

Yes you can still register your company with the BIR and local government... however, you might be subjected to penalty such as late registration..

 

clarify ko lang sa capital gains tax di ba 7.5% na yun, correct me if i am wrong po, salamat

Nope it is still 6%..

[Mandrake]

Mate, when transferring title of property under a Deed of Donation what sort of TAX (transfer tax?) and how much tax would be collected %-wise? :mtc:

[adriane888]

Mate, when transferring title of property under a Deed of Donation what sort of TAX (transfer tax?) and how much tax would be collected %-wise? :mtc:

It will be subjected to donor's tax under graduated tax rate with a maximum of 15%..

[Mandrake]

It will be subjected to donor's tax under graduated tax rate with a maximum of 15%..

 

...of zonal value of the property, bro? Is there a link or site I could browse where I

could view the "graduated tax rate" and zonal values of properties in the QC area

specifically those along West Ave?

 

Your a great help, mate! :cool:

[tripmate]

ei guys one quick question pow....

 

kasi i'm working on a callcenter for almost 2yrs now and ngayon ko lng nlaman na wala pala akong TIN no., kala ko kasi meron na kasi nag fillup me ng paper sa kanila.... and one more thing, nung last passing ng taxes, binigyan nila ako ng ITR pero walang TIN... pede ba yun??

 

hope may sumagot and thanks pow..... :cool:

[jackbrng]

Hey peeps, gusto ko lang inform you and especially ppl form BIR QC area na ang BURGER MACHINE ay HINDI NAGBIIGAY NG RECIBO pagkatapos mong kumain. Pag hihingi ka ng receipts sasabihin nila naubos na. Dati kumakain ako don pero ngayon hindi ko na patronize ang BURGER MACHINE kc nga malamang TAX EVADER ito...

PAGING BIR PEEPS FROM QC, PLS INVESTIGATE BURGER MACHINE ( near SM Fairviev, Delacosa branch ) :evil:

 

agree ako dyan, James Richard, wag lng SM Fairview branch ang imbestigahan, lahat ng branch, normal practice na ng BURGER MACHINE yan, ano pa silbi ng pinapa-post ng BIR sa business establishment na NOTICE TO THE PUBLIC na may nakalagay don na P25 above dapat may resibo?

 

baka nga i-TAX MAP mo BURGER MACHINE wala kang makitang resibo, libro, di bayad 0605, magkano na penalty non, P25,000 sa resibo, P1000 sa libro, P1000 sa 0605, P1000 sa walang daily entry of record sa libro kasi walang libro, total of P28,000 (baka maliit pa tong estimate ko) sabihin mo may 100 branches sila, e di P2,800,000 ang mapupunta sa govt dahil lang sa penalty

 

BAKA BIR ANG MAYARI? PEACE BIR PEOPLE, NAGTATANONG LANG, HOY! GISING!

[jackbrng]

ei guys one quick question pow....

 

kasi i'm working on a callcenter for almost 2yrs now and ngayon ko lng nlaman na wala pala akong TIN no., kala ko kasi meron na kasi nag fillup me ng paper sa kanila....

 

anyways, ask ko lng kung pede ba yun na sabi nila binabayad daw nila yung taxes sa akin kahit wala akong TIN kasi daw nasa pangalan ko daw yun or nakasama daw sa pag file nila ng company taxes daw ?? and one more thing, nung last passing ng taxes, binigyan nila ako ng ITR pero walang TIN... pede ba yun??

 

hope may sumagot and thanks pow..... :cool:

 

pwede yon, basta may kopya ka ng ITR with attached 2316 (Certificate of Withholding Tax), bale tax mo sa yo pa rin papasok yon kahit walang TIN, yung name mo ang gagawin basis, mas maganda kumuha ka na ng TIN madali lang naman, punta ka sa BIR kung saan ang registered address mo, dala ka ng birth certificate, marriage certificate kung may asawa ka, at birth certificate ng anak mo kung may anak ka na, fill-up ka ng form, submit mo sa BIR, antay ka 1 week, may number ka na, kung gusto mo mabilisan, bigyan mo clerk sa BIR sa registration P200.00, same day may number ka na,

[jackbrng]

...of zonal value of the property, bro? Is there a link or site I could browse where I

could view the "graduated tax rate" and zonal values of properties in the QC area

specifically those along West Ave?

 

Your a great help, mate! :cool:

 

visit www.bir.gov.ph for zonal values of your properties

 

you can also use the site to look for graduated tax rate, download or open TAX CODE OF THE PHILIPPINES

 

kaso bagal ng site nila, tagal makadownload, hehehe, good luck na lang

[jackbrng]

Hi! just wanna ask lang, hinihingi ba ng BIR ang leasing certificate? what if hindi pa nakakahanap ng pwesto or hindi pa sya natatayo? hope you guys can help me with this... tnx

 

kung nangungupahan ka lang, dapat may pwesto ka na bago ka parehistro sa BIR kasi tatanungin ka kung saan pwesto mo, tapost tatanungin ka kung nangungupahan ka kasi kung nangungupahan ka lalagyan sa Tax Type mo sa Certificate of Registration na Withholding Tax expanded, withholding tax ito sa lessor, bale ang lesse ang magkakaltas sa upang ibabayad nya kay lessor, so kailangan may contract of lease ka pag rehistro sa BIR.

 

kung di pa natatayo, pero sa yo yung lugar, di ka rin makakarehistro BIR (pwera na lang kung may kilala ka sa loob), kasi isa sa requirements pa rehistro BIR ay Mayors Permit, requirements sa Mayors Permit ay Certificate of Occupancy, requirements sa Certificate of Occupancy ay dapat may building na o gawa na yung building at na-inspect na ng mga engineer ng city hall at approbado nila, so pag walang building walang rehistro sa BIR

[jackbrng]

kung nangungupahan ka lang, dapat may pwesto ka na bago ka parehistro sa BIR kasi tatanungin ka kung saan pwesto mo, tapost tatanungin ka kung nangungupahan ka kasi kung nangungupahan ka lalagyan sa Tax Type mo sa Certificate of Registration na Withholding Tax expanded, withholding tax ito sa lessor, bale ang lesse ang magkakaltas sa upang ibabayad nya kay lessor, so kailangan may contract of lease ka pag rehistro sa BIR.

 

kung di pa natatayo, pero sa yo yung lugar, di ka rin makakarehistro BIR (pwera na lang kung may kilala ka sa loob), kasi isa sa requirements pa rehistro BIR ay Mayors Permit, requirements sa Mayors Permit ay Certificate of Occupancy, requirements sa Certificate of Occupancy ay dapat may building na o gawa na yung building at na-inspect na ng mga engineer ng city hall at approbado nila, so pag walang building walang rehistro sa BIR