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  • 2 weeks later...

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:

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  • 5 weeks later...
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!

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  • 2 weeks later...

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?

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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

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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.

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  • 2 weeks later...
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.

 

My comments:

 

1. The distinctions among head of family, single and married individuals have been erased. This will be more beneficial to the HOF and single taxpayers. Tax students will also benefit. They have less stuff to memorize. :D

 

2. On the date of effectivity, the law itself states that it will be effective 15 days from publication in the Official Gazette or in two newspapers. The Civil Code provides that laws will generally have no retroactive effect. Additionally, tax exemptions are interpreted strictly against the taxpayer claiming them. Add to that the lifeblood theory (and especially now that the BIR has to meet collection targets) and it is clear that this will be an uphill battle by Escudero and company. I would like to see their arguments though.

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2. On the date of effectivity, the law itself states that it will be effective 15 days from publication in the Official Gazette or in two newspapers. The Civil Code provides that laws will generally have no retroactive effect. Additionally, tax exemptions are interpreted strictly against the taxpayer claiming them. Add to that the lifeblood theory (and especially now that the BIR has to meet collection targets) and it is clear that this will be an uphill battle by Escudero and company. I would like to see their arguments though.

 

yes sir, RA 9504 become effective after 15 days from publication and since this was become effective this year, said Tax exemptions will become available on filing of personal income tax on April 15, 2009 in respect of compensation income earned or received during the calendar year 2008.

 

sir, binase ko pala ito sa Supreme Court ruling GR No. 104037 and 104069.

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  • 2 weeks later...
hello, question lang po, yung kaibigan ko kakagrad lang, wala pa din siya TIN, pero gusto niya magtayo ng small business kasama mga ka-sosyo niya... ano dapat niyang gawin at i-register sa BIR? sabi ko kuha siya mixed income, tama po ba?

 

kung employed sya at may planong magtayo ng business, magiging mixed income earner nga sya at the time magkaroon sya ng business. anyway, pakuhanin mo na lang sya ng TIN para sa business nya at wag na para sa employment nya, in case may work nga sya, para isang lakaran na lang sa BIR.

 

Para magka-TIN yung business nya, kailangan ng DTI, mayors permit, at Contract of Lease kung inuupahan yung pwesto o Latest Real Property Tax kung sa kanya yung puwesto.

 

Yung makukuha nyang TIN dito ay pwede nyang gamitin sa employement nya. Ngunit para lamang ito sa single proprietorship. In case ang itayo nya ay corporation, iba ang TIN ng corporation at iba ang TIN nya as individual, at isa pa, hindi DTI ang kukunin mo kung hindi ay SEC.

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