BIR Concerns

[jackbrng]

sorry po sa kulang na info sir,

 

per Statement ko po, Bwas po ako ng 400 for SSS; 200 sa pag-ibig (pero 100 lng ang er, request ko kz na taasan ko ang contri ko); Philhealth is 150.

 

tinaasan nga nila me this september, SSS ko 500.00: Pag-Ibig 500.00 (100 pa din ang er) and philhealth 187.50.

 

taxable pa rin ba ung time na nag below ako ng minimum? (July - August)

 

hindi ka na taxable simula napatupad ang increase ng minimum wage kaya dapat wala ka ng withholding tax deductions.

[magnus]

I have an informal employment meaning I don't have formal papers, no SSS, Philhealth, etc. My boss just gives me 15K a month while I work for him and I have no problem with that. Just like to ask whether I need to file my income tax this april. And if yes, how much will I declare so tha I don't need to pay any taxes?

 

Thanks

[jhuneus]

Sa mga concerned tax-payers dyan, ano naman ang masasabi nyo sa bagong amendment tungkol sa preferential income tax (PTT).

 

ftp://ftp.bir.gov.ph/webadmin1/pdf/53731RR%2011-2010.pdf

 

SECTION 3. - Eligibility to the 15% Preferential Tax Rate. - Filipinos exercising the option to be taxed at fifteen percent (15%) preferential rate for occupying the same managerial or technical position as that of an alien employed in an ROHQ or RHQ must meet all the following requirements:

 

a. Position and Function Test. - The employee must occupy a managerial position or technical position AND must actually be exercising such managerial or technical functions pertaining to said position;

 

b. Compensation Threshold Test - In order to be considered a managerial or technical employee for income tax purposes, the employee must have received, or is due to receive under a contract of employment, a gross annual taxabale compensation of at least PhP 975,000.00 (whether or not this is actually received); ...

[guest1979]

Hello mga masters,

 

Need your help badly, I have this sideline sa quezon city. 2 separate stores, one store is owned by the mother while the other owned by the daughter. this year, they are planning to 1st store (owned by the mother) to be as a branch to the other store. my question is

a. Will i still need to file sa city hall for closure for the 1st store even though it will still continue to operate?

b. If it would be closed, will i still need to register it to as a branch to the second store?

 

thanks for your help

[doodzz]

Good day.

I'm looking for a freelance acccountant who can help me process my 2010 1701 tax form for my single foodcart business at Muntinlupa area. If anyone interested, kindly PM together with the rate.

Thanks.

[leroynoval]

Gud day sir,

 

Tanong ko lang sana kung ano talaga ang right computation of the withholding tax...

 

meron kz me 2 friends na same ang sahod 20,000.00 both are married with no qualified dependents, ung isa is more than 60 yrs. old so wala na sya deduction sa SSS, Philhealth and Pag-Ibig while the other has deductions.

 

I've talked to a CPA, she said that I don't need to deduct the SSS, Philhealth and Pag-Ibig (Employee part Only) sa basic pay nya dahil obligation daw un ng employee. but per Alpha list and 1601-E form, SSS, Pag-Ibig and Philhealth nakalagay sa non-taxable compensation which is also deductible sa basic salary nla...

 

 

meron naman me kilala na hindi CPA pero nagsasabi na dapat ibabawas ung SSS, Pag-Ibig and Philhealth....

naguguluhan na me kung ano talaga ang sundin ko...

 

Thanks for the reply, hope you can also gave me an sample computation.

[basiliatan]

CAN A PERSON HAVE 2 TINs ?? IS IT AGAINST THE LAW IF YOU HAVE 2 TINs ??

[ianlone81]

ah eh.....ang alam ko, bawal yan. I think it's written at the back of your TIN card.

Yup bawal talaga yan and i think it's punishable

[Mango Man]

angelbyday,

 

good news, that newfangled SALN thing is now "optional", meaning no one will file it! hahahaha.

 

personally, its not a bad idea in principle, although i think they should increase the income threshold from P500K to P3 million, since they're targeting high net worth individuals. Pero implementation is bad, dapat they give enough time for everyone (including accountants, etc.) to know all the details.

[rxv]

Optional na ba talaga o hindi? CAn anyone clarify this?

[jacuzzi]

One thing about the present pressure to TAX Filipinos is the absence of specific government programs that can justify government revenues.

 

Each administration need programs to resolve issues on revenues. A lot of these programs expire or need reprogramming in order to stay relevant or updated. For example, power plants got a lifespan and they sometimes miss their maximum life because of poor maintenance or if they are overworked beyond acceptable capacities as dictated by engineering designs. Aging power plants normally deteriorate and got more downtime than new ones. I think the government is putting so much emphasis on collection of taxes without focusing on the revenue generators that programs provide.

 

 

 

 

 

Please show an integrated national economic program. Private firms and individuals that participate on these programs cannot escape taxation, and tax revenues would rise because of the value added activities.

 

 

 

 

In the absence of a sustainable program, taxation is going to be very oppressive because not only is government not doing its business of leadership but the private sector is not able to secure activities that can make income for both their private companies and source of tax for government.

 

 

[guest1979]

Hello Masters,

 

Tanong ko lang po if anong process ang gagawin pag mag close ng business? magkano kaya ang gagastosin?

 

Thanks for the help...

[scalpelsexpert]

Please help me in filing quarterly income tax (1701Q)

 

Kelangan ba babayaran ko na ang 2551M ng March (which is due in April 20) to inculde sa quarterly?

[kokomonster]

Hello Masters,

 

Tanong ko lang po if anong process ang gagawin pag mag close ng business? magkano kaya ang gagastosin?

 

Thanks for the help...

 

 

you'll need to submit the ff:

 

Letter request for closure of business

Duly filled up BIR form 1905

Original COR

CMS (case monitoring system. to be processed with the collection section of your rdo. this will check if there are tax returns that you did mot file.)

List of unused receipts.

 

Your taxes for the past 3 years will be audited. If you have any deficiencies, you'll have to pay that.

[kokomonster]

Please help me in filing quarterly income tax (1701Q)

 

Kelangan ba babayaran ko na ang 2551M ng March (which is due in April 20) to inculde sa quarterly?

 

income tax and value added tax/percentage tax are treated separately so you still must file your 2551M ahead of your quarterly income tax otherwise you'll pay additional penalties ie. 25% surcharge, 20% interest per annum, and compromise penalty. even if one day ka lang late, halos doble na ang babayaran mo kya masakit rin. take note magkaiba ang deadline ng quarterly income tax and percentage tax. quarterly income tax deadline is 60days after the close of the quarter. your monthly percentage tax the deadline is 20days after the close of the month.