BIR Concerns

[Fidopinduco]

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?

[diver_703]

i bought a house a few months ago... got the title already... what should i expect to pay every year, in taxes and other things... and when... tnx...

[Pussyboy]

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?

 

yes. when your basic goes up, you might end up in a higher bracket, thus experience a higher withholding tax on your payslip.

 

ask again your accounting, they can be creative also.

Edited March 4, 2007 by stiffmike

[Pussyboy]

i bought a house a few months ago... got the title already... what should i expect to pay every year, in taxes and other things... and when... tnx...

 

its just real estate taxes that you have to pay city hall.

[lomex32]

I opened up a thread on GAS Receipt exchange on the MOTORING thread ..

 

I have 4K worth of gas every month ....Shaw blvd mandaluyong area bigay ko na lang sayo

 

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?

Edited March 4, 2007 by lomex32

[goldfinger2007]

Every year you have to pay Real estate tax, deadline is on March 31.

[jackbrng]

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?

 

Yes, your formula is correct, your income will increase because of this allowance and BIR will treat your gasoline allowance as part of your income even you provide receipt because the nature of your allowance is fixed on monthly basis. However, if your company just reimburse what you had only consumed on your gasoline expense, which in effect the amount of expense will vary every month, this will not be included on your income.

[adriane888]

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...

[Fidopinduco]

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...

 

 

 

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?

[adriane888]

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..

[gabriel64]

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..

 

 

Sir adrianne888, I hope you dont mind if I add some examples:

 

Fringe Benefit Tax is imposed on benefits such as (a) Housing; ( Expense Accounts; © Company Vehicles; (d) Expenses for Foreign Travel; (e) Holiday/vacation expenses. The idea is to treat some of the company perks as additional income subject to tax. That's why there is FBT.

 

However, the benefit is not taxable if the benefit is necessary for the business of the employer or the convenience of the employer. For example, if the company pays for your foreign vacation travel, it is subject to FBT. But if the company pays for your foreign travel because it is for company business, that should not be taxed for FBT.

[Pussyboy]

re gas receipts, it depends as to how efficient and tax compliant your company is. the bigger the company, the more efficient and tax compliant they are. still they can be creative. just ask nicely, giving what you want is not as easy as it looks.

[Pussyboy]

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..

 

better package it under your compensation so that we are released from explaining FBT. true its technical. its very seldom i encounter FBT. HR and Accounting agrees to this consolidation to lessen tax concerns to worry about.

 

when given new benefits, have HR or accounting give you a sample computation of your new salary, taxes, benefits, etc. its your right to ask. if this new benefit doesn't appeal to you, you ask for concessions to sweeten the deal. this is my 2cents on the subject.

[diver_703]

Every year you have to pay Real estate tax, deadline is on March 31.

 

makaka receive ba ako ng resibo stating how much i should pay... magkano po ang babayaran ko... ilang percent ng house value... tnx a lot

[jackbrng]

makaka receive ba ako ng resibo stating how much i should pay... magkano po ang babayaran ko... ilang percent ng house value... tnx a lot

pumunta ka sa city hall na nakakasakop sa lupa mo, hingi kang assessment para malaman mo magkano babayaran mo at saka may resibo yan

[jackbrng]

wala na bang bagong topic dito????

 

anyway lapit na april, tax season na!!!!

 

pay your taxes early to avoid penalty!!!!

[sunking]

The company which I do some part-time work with has given me four 2307 Forms corresponding to each quarter of last year. These Certificates of Creditable Tax Withheld At Source contain the info on my income (marked as professional fees) and the tax withheld.

 

How can I then file my income tax? Where do I get the proper forms and all?

 

Sorry this is all new to me since they used to do this for me, but policy changed this year for company part-timers.

[Pussyboy]

The company which I do some part-time work with has given me four 2307 Forms corresponding to each quarter of last year. These Certificates of Creditable Tax Withheld At Source contain the info on my income (marked as professional fees) and the tax withheld.

 

How can I then file my income tax? Where do I get the proper forms and all?

 

Sorry this is all new to me since they used to do this for me, but policy changed this year for company part-timers.

 

go to www.bir.gov.ph - go to forms and download 1701. you attach the 4 2307 forms there. deadline is april 16, 2007.

[Guest FL]

Pano po ang pag-compute ng income tax sa business na less than 10 employees?

Ilang percent po ang income tax? Is the COLA and overtime taxable?

How come binawasan na ko ng income tax eh wala pa ko TIN?

[artvader]

If an employee is earning 10,000/month, how much is his withholding tax? And how do you compute for it? Do you start computing for the tax after paying off your SSS and Pag IBIG dues, or do deduct your tax from the whole 10,000? Thanks.

[in_style]

go to www.bir.gov.ph - go to forms and download 1701. you attach the 4 2307 forms there. deadline is april 16, 2007.

 

just want to thank you for answering the queries on this thread.

big help, bro!

 

:cool:

[tio_pot]

Gud PM!

 

I have an inquiry here... My wife gave birth last september and finile ko na sya sa BIR nung pumasok na ako. Dineclare ko na ako ang head of the family and sa akin yung dependent. Napansin ko na same pa rin yung dinededuct sa akin ng employer ko. Mairerefund pa ba sa akin yung binayad ko na tax na sobra? If ever na sabihin ng employer ko na di na yun marefund, kanino ako dapat magreklamo?

 

Salamat!

[tio_pot]

Did you fill-up a form in your HR to update your personal exemption? Aren't you married? Married with x number of dependent/s ka po dapat if you're married. Mas malaki ang exemption nun.

 

Ganun po, mag-file ka ng update sa employer mo using form W4 (of course attach the birth cert of your child). Pag-file mo ng ITR (on or before April 16 - since Sunday nagfall ang April 15) lalabas na may overpayment ka. Dapat kse nag-update ka kagad with your employer para sila sana ang nag-refund sa yo. Mahirap mag-refund ng direct from BIR kse. Aabutin ng centuries yata yan.

 

nag-update na ako matagal na.... yung accounting lang ang dipa nagrerefund sa akin.... so, ang sisingilin ko ay yung accounting namin... kapag di nila nirefund yun, sa BIR ko na sya irerefund? or pwede kong ireklamo ang employer ko?

 

thanks again!

[Pussyboy]

nag-update na ako matagal na.... yung accounting lang ang dipa nagrerefund sa akin.... so, ang sisingilin ko ay yung accounting namin... kapag di nila nirefund yun, sa BIR ko na sya irerefund? or pwede kong ireklamo ang employer ko?

 

thanks again!

 

if your wife gave birth september, and you filed an update with your accounting last year also, the refund you are talking about should have been given to you on your last payroll for 2006. if not, it should have been paid january 2007.

 

you will know if you have been computed properly upon receipt of your BIR form 2316. this is the tax certificate that the company gives you as proof that you have been deducted of your taxes. it should show your new exemption status and that you dont have any tax overpayments.

 

should you have overpayments, then you go after BIR. gud luck on this as BIR doesnt give out refunds anymore to individuals.

[shamrock12345]

if your wife gave birth september, and you filed an update with your accounting last year also, the refund you are talking about should have been given to you on your last payroll for 2006. if not, it should have been paid january 2007.

 

you will know if you have been computed properly upon receipt of your BIR form 2316. this is the tax certificate that the company gives you as proof that you have been deducted of your taxes. it should show your new exemption status and that you dont have any tax overpayments.

 

should you have overpayments, then you go after BIR. gud luck on this as BIR doesnt give out refunds anymore to individuals.

 

PRE SINO ANG PUEDE MAG PA LOAN WITH MINIMUM INTEREST LANG PLANO KO KASI DAGDAGAN CONMPUTER SHOP KO.. HELP ME NAMAN,,,,