BIR Concerns

[black cat]

Question lang... Kung ang minimum wage ay 382.00 na, then we follow the computation sa table nila at ang exemption ay 50k lang, meron pa rin ikakaltas na around 8k/year. ang labo naman! Sana 2009 na lang ang implementation para wala masyado adjustment for 2008. Wrong timing kasi mid year na tsaka implement

 

Kainis pa yung ibang nagtatanong... Sasabihin pa na pinublish na sa dyaryo at papakita pa yung picture ni madam gloria na pumipirma. kaya dapat wala na kaltas. Minsan mahirap paliwanagan pero nakakatawa lang din naman sila. hehehe...

 

Wala pong adjustment kasi effective July 6 sha. Ang annualize computation example nandun sa draft ng implementing guidelines. Bale as is ang tax from Jan-June kaya we don't have to recompute.

[b1gbeauty89]

Good thing going on in here lalo na pag tax ang usapan ..hehehe. I think RA 9504 is being implemented already but it will start this July 2008. Walang refund from Jan-June (sayang!) pero if ever di ba mas maganda pero not a refund why not have it as tax credits para di na tayo babawasan ng tax for the next 6 months for this year di ba...hmmm what do you think guys? baka po meron kayo nung schedule ng revised tax exemption pls let me know where i can get it...but if you're looking for the revised withholding tax table for RA 9504 i do have it just pm me if you want a copy.

[jackbrng]

Good thing going on in here lalo na pag tax ang usapan ..hehehe. I think RA 9504 is being implemented already but it will start this July 2008. Walang refund from Jan-June (sayang!) pero if ever di ba mas maganda pero not a refund why not have it as tax credits para di na tayo babawasan ng tax for the next 6 months for this year di ba...hmmm what do you think guys? baka po meron kayo nung schedule ng revised tax exemption pls let me know where i can get it...but if you're looking for the revised withholding tax table for RA 9504 i do have it just pm me if you want a copy.

 

final na yung kopya mo? baka galing sa draft lang yan. hirap pag-basehan kasi hindi pa naman final at baka baguhin pa.

sa totoo lang, magulo pa yung sa draft. sa sa press release exempted ang minimum wage earner sa income tax. sa draft exempted lang sa withholding tax, eh matagal ng batas yun eh, na-ammend lang yung amount ng salary plus other things para ma-exempt sa withholding, nonetheless, subject pa rin sa income tax.

 

kaya waiting muna ako sa i-publish sa dyaryo saka na uli mag-comment, hehehhe

[rccutia]

Hi Guys, also hi to Jackbrng, who refer this thread to me. Well, opinion ko lang ito, Yung draft copy ng RA9504 ay almost ganun na rin madalas kasing ina-aprove nila, may changes man di naman masyado material siguro, so maybe puede na rin natin gamitin yung formula na binanggit sa draft ng BIR para sa withholding for July to December 2008. According sa draft Wage earner is exempted to w/holding and Income tax mahirap naman siguro baguhin pa nila yun. Sa personal exemptions From Jan to June - Married individual will be computed as 32,000 divided by 2 or (32,000 x 6/12) ganun din sa add'l exemptions or each dependent children 8,000/2 rin , then from July to December Personal exemption regardless of status is 50,000 so per draft of BIR the exemption will be 50,000/2 or (50,000 x 6/12) and for each dependent children 25,000/2 din. In short, the net exemption based on the draft resolution of BIR will be 41,000 plus add'l of 16,500 for each dependent children. Hopefully, per BIR maaring next week nila ilabas yung approved resolution of RA 9504.

So may idea na tayo kung magkano ibabawas natin sa w/tax for July 2008, kung hindi magbago yung draft ng BIR then hanggang november pareho rin ng July deduction ang ikakaltas natin sa sahod natin.

 

Maraming Salamat po sa pagbabasa, sana ay may matulungan ako sa mga namomroblema sa w/holding for July 2008.

 

 

Rey Cutia po ang inyong lingkod.

[b1gbeauty89]

Hi Guys, also hi to Jackbrng, who refer this thread to me. Well, opinion ko lang ito, Yung draft copy ng RA9504 ay almost ganun na rin madalas kasing ina-aprove nila, may changes man di naman masyado material siguro, so maybe puede na rin natin gamitin yung formula na binanggit sa draft ng BIR para sa withholding for July to December 2008. According sa draft Wage earner is exempted to w/holding and Income tax mahirap naman siguro baguhin pa nila yun. Sa personal exemptions From Jan to June - Married individual will be computed as 32,000 divided by 2 or (32,000 x 6/12) ganun din sa add'l exemptions or each dependent children 8,000/2 rin , then from July to December Personal exemption regardless of status is 50,000 so per draft of BIR the exemption will be 50,000/2 or (50,000 x 6/12) and for each dependent children 25,000/2 din. In short, the net exemption based on the draft resolution of BIR will be 41,000 plus add'l of 16,500 for each dependent children. Hopefully, per BIR maaring next week nila ilabas yung approved resolution of RA 9504.

So may idea na tayo kung magkano ibabawas natin sa w/tax for July 2008, kung hindi magbago yung draft ng BIR then hanggang november pareho rin ng July deduction ang ikakaltas natin sa sahod natin.

 

Maraming Salamat po sa pagbabasa, sana ay may matulungan ako sa mga namomroblema sa w/holding for July 2008.

Hi sir Rey thanks for the specifics of the exemption its abig help actually at least may idea na ako. Thanks again.

 

Rey Cutia po ang inyong lingkod.

[kanos]

hi all.

 

i have a question. i have been employed for over 8 years and i just noticed that my TIN reflecting in my ITR form is incorrect, it had 2 jumbled numbers. i.e. instead of 985.. 895 is indicated in my ITR. not sure who made the mistake. if it was me or my emplyers typed it in incorrectly. Ü

 

do i have to do something here? i just informed our HR dept of the mistake and they did not mention anything about me doing something about it. they'll update their records lng daw. but on my part i want to be sure that im not doing anything illegal.. it's taxes we're talking here and i just want to be sure if there's something that i should be doing..

 

thanks

[rccutia]

hi all.

 

i have a question. i have been employed for over 8 years and i just noticed that my TIN reflecting in my ITR form is incorrect, it had 2 jumbled numbers. i.e. instead of 985.. 895 is indicated in my ITR. not sure who made the mistake. if it was me or my emplyers typed it in incorrectly. Ü

 

do i have to do something here? i just informed our HR dept of the mistake and they did not mention anything about me doing something about it. they'll update their records lng daw. but on my part i want to be sure that im not doing anything illegal.. it's taxes we're talking here and i just want to be sure if there's something that i should be doing..

 

thanks

 

 

Hi Kanos,

 

Well, just as long as the HR dept issued to you the Certificate of Taxes withheld on compensation theres nothing to worry about, its just a typographic error on the part of your employer, anyway they type your name naman in the Certificate, the certificate is your proof that you have fully paid your taxes.

 

Rey Cutia

[kanos]

Hi Kanos,

 

Well, just as long as the HR dept issued to you the Certificate of Taxes withheld on compensation theres nothing to worry about, its just a typographic error on the part of your employer, anyway they type your name naman in the Certificate, the certificate is your proof that you have fully paid your taxes.

 

Rey Cutia

 

Thanks!I guess I have to keep my ITRs just in case... :thumbsupsmiley:

[jackbrng]

i went to BIR office last week and i heard somebody asking a officer of the day regarding the new withholding tax table. So i butt in and ask the officer of the day, who btw, was very accomodating unlike the other revenue officers, if RA 9504 that exempts minimum wage earner from income tax was already in effect, she replied positively but they don't have the implementing rules and guidelines yet. just like my friend rccutia says, the draft copy of RR 20-2008 as implementing guidelines of RA 9504 will almost be the same as the final copy that will be release soon.

 

but, still, the question is, does the exemption covers the whole year of 2008 or just starting July 6, 2008, the date that new RA was implemented. One blogger posted a Supreme Court ruling, when Pres. Aquino increase the tax exemption for the year 1991. Said RA was signed Dec. 1991, and took effect the following month which is Jan. 1992. The BIR release its Implementing guidelines on Jan. 1992 and ruled that said RA covers only year 1992 when the RA took effect. However, Supreme Court rule that increase in exemption cover income of year 1991 since after effectivity of said RA, it become available for filing of income taxes on April 15, 1992, in respect to income earned and received during the year 1991.

[xxxxx]

it's better if you check it with the bir office. baka sa ibang tao na napupunta ang bayad mo.

[ponx_99]

Am currently employed by 2 employers. Am an employed physician by the way and since I cant finance my own clinic yet (since I just started practice) am employed by one company as their company physician whilst my other employer is a good friend who owns a diagnostic center and got me to handle his clinic and am paid by the day. Nevermind asking how i manage the sched :-) If they both file my itr, who's my primary employer and who's the secondary (anyway is this possible) Secondly, who shoulders my sss? Thank You! Your immediate thoughts on this is greatly appreciated! :cool:

[JoB_LoW]

Mga kapatid, tanong ko lang po kung nag update ako ng BIR as single, head of the family with one dependent yung mother ko pero pag check ko ng pay slip ko naka declare lang sa akin ay single. Pede bang i-consider ang mother na dependent? Thanks!

[kinjikitatani]

Mga kapatid, tanong ko lang po kung nag update ako ng BIR as single, head of the family with one dependent yung mother ko pero pag check ko ng pay slip ko naka declare lang sa akin ay single. Pede bang i-consider ang mother na dependent? Thanks!

 

only your children can be considered dependent in order to avail of the additional personal exemption. before ra 9504, if your mother is your dependent, you can be upgraded to head of the family, but still you cannot claim your mother as dependent.

 

under the new law, it doesn't matter anymore if you are single, head of the family or married; the personal exemption is uniform at P50,000

[kinjikitatani]

Am currently employed by 2 employers. Am an employed physician by the way and since I cant finance my own clinic yet (since I just started practice) am employed by one company as their company physician whilst my other employer is a good friend who owns a diagnostic center and got me to handle his clinic and am paid by the day. Nevermind asking how i manage the sched :-) If they both file my itr, who's my primary employer and who's the secondary (anyway is this possible) Secondly, who shoulders my sss? Thank You! Your immediate thoughts on this is greatly appreciated! :cool:

 

first, since you have two employers, you are required to file an income tax return. normally kasi, if an employee is earning purely compensation income from only one employer, he is not required to file an itr as long as you have a copy of your bir form 2316 signed by your employer.

 

second, your primary employer is the one giving you the higher pay, of course. he is also responsible for pay for your sss.

 

third, now to prepare your itr, you must add income earned from both employers, compute the tax and deduct the taxes withheld by both of your employers. since you have two salaries, chances are you will move up to the next tax bracket and will pay additional taxes. bad news.

[ponx_99]

first, since you have two employers, you are required to file an income tax return. normally kasi, if an employee is earning purely compensation income from only one employer, he is not required to file an itr as long as you have a copy of your bir form 2316 signed by your employer.

 

second, your primary employer is the one giving you the higher pay, of course. he is also responsible for pay for your sss.

 

third, now to prepare your itr, you must add income earned from both employers, compute the tax and deduct the taxes withheld by both of your employers. since you have two salaries, chances are you will move up to the next tax bracket and will pay additional taxes. bad news.

 

would that mean i should file in form 1700? Thanks! :thumbsupsmiley:

[kinjikitatani]

yup, bir form 1700, for those earning purely compensation income

[TRUSTNO1]

good afternoon. i hope someone could enlighten me regarding the requirements for tax deductibility of expenses.

i am currently connected with a PEZA registered company and as such the company enjoys duty free importation incentives and VAT zero-rating of transactions with local suppliers.

 

In addition to our PEZA registered activities, we also have sales transactions which are directly delivered to our customers (i.e. from the country of origin delivered to the factory of the customer). The import documentation for this transaction reflects the shipper as the vendor from the country of origin and the consignee is our customer. However, the customer buys from our company and not from the vendor abroad. Our company, on the other hand pays for the goods to the vendor abroad. In this scenario, is the cost of goods tax deductible?

 

TIA

 

:mtc:

[ryc100]

help po..i dont know my tin #,tried calling the bir trunkline kaso ilang miutes na hirap makalusot. called my former employer they dont have a record of my tin # daw,is it because i havent been employed for a 1 whole year? hope some1 could help me thanks

[Sideshow Bob]

Mga idols, ok lang ba na mag tax map ang RDO 50 (Makati) sa amin eh RDO 121 kami (Large Taxpayers)!

 

E-Payment kami sa 0605 tapos gusto nila ORIGINAL daw i-display namin! Ang Bobo naman nila!

[azayco]

help po..i dont know my tin #,tried calling the bir trunkline kaso ilang miutes na hirap makalusot. called my former employer they dont have a record of my tin # daw,is it because i havent been employed for a 1 whole year? hope some1 could help me thanks

 

Go to the nearest BIR RDO which is computerized. Any of the Makati RDOs in Atrium Makati Avenue will be your best bet. Ask for your TIN there.

 

Good luck!

[axlerose100]

Mga sirs, tanong ko lang sana kung reported ba sa BIR yung mga sales invoice na wala namang nakalagay na permit number from BIR. I've seen a few competitors using these "sales invoices"

[axlerose100]

I mean are those sales invoices' taxes paid by these establishments?

Edited October 24, 2008 by axlerose100

[Immortal666]

Hey, has anyone heard the news about the new Tax Exemption brackets? I won't be surprised if you didn't coz I habe not read it in the papers nor seen it in the news. But the company I work for has issued a memo stating that the new Tax Exemption brackets will soon be in effect and retroactive to July of this year. Basically what will happen is that the status of Head of the Family will be abolished and tax payers will only either be bracketed under Single or Married.

 

Reactions?

[jackbrng]

Mga sirs, tanong ko lang sana kung reported ba sa BIR yung mga sales invoice na wala namang nakalagay na permit number from BIR. I've seen a few competitors using these "sales invoices"

 

uy, kung walang BIR permit number sa ibaba ng invoice ibig sabihin hindi ito rehistrado sa BIR at bawal itong gamitin. pwede mo ito i-reklamo at bibisitahin ito ng taga BIR

[jackbrng]

Hey, has anyone heard the news about the new Tax Exemption brackets? I won't be surprised if you didn't coz I habe not read it in the papers nor seen it in the news. But the company I work for has issued a memo stating that the new Tax Exemption brackets will soon be in effect and retroactive to July of this year. Basically what will happen is that the status of Head of the Family will be abolished and tax payers will only either be bracketed under Single or Married.

 

Reactions?

 

matagal nang na-i-publish sa dyaryo yung guidelines ng RA 9504. BIR Revenue Regulation NO. 10-2008 yun. Sa Philippine Star ko ito nabasa pero nakalimutan ko na yung petsa. Mga 3 to 5 pages din ata nasakop nito.

 

Parang bale wala na yung status dahil lahat ng status, single, head of the family at married ay iisa na lang ang basic exemption at P50,000.00. IMHO, ok na to kasi nga nadagdagan yung halaga ng exemption pati na yung additional exemption sa dependent at P25,000 each from P8,000, so meaning liliit talaga yung taxes ng mga empleyado.

 

Pero, what really bugging me is the date of effectivity. Ito talaga yung issue dito. I heard, may pending petition sa Supreme Court laban dito sa guidelines ng BIR dahil yung effectivity ng guidelines ay nagsimula sa July 6, 2008, so kalahati lang ang ma-a-avail ng mga empleyado na benepisyo sa bagong batas na ito which is contrary to legislative intent of RA 9504. Sen . Escudero and a certain Congressman which I forgot the name, even wrote to DOF explaining that RA 9504 should have a retroactive effect or its effective date was on Jan 1, 2008 so that employees particularly the minimum wage earner should fully enjoy the benefits of the said law. Eh ang kaso, naikasa na ni Hefti yung BIR RR 10-2008, so sa ngayon, yung guidelines ang masusunod at waiting na lang muna sa resolusyong ng Supreme Court.