Search results
3 days ago · The Bureau of Internal Revenue (BIR) has released a series of Revenue Regulations (RR) for the implementation of Republic Act No. 11976, otherwise known as the Ease of Paying Taxes (EOPT) Act. This edition of Tax Notes discusses matters relating to the preservation of the Book of Accounts and changes in taxpayer registration, covered under Sections 4 and 5 of RR No. 7-2024.
5 days ago · Key Takeaways: Understanding Philippine tax rates is crucial for individuals and businesses. The tax system in the Philippines includes corporate income tax, personal income tax, value-added tax, and withholding taxes. Deductions, exemptions, and credits are available to reduce tax liability.
3 days ago · How to Claim Treaty Benefits on a U.S. Tax Return. U.S. taxpayers must typically disclose their treaty-based position on their tax return to claim benefits under a tax treaty. This is done using IRS Form 8833, “Treaty-Based Return Position Disclosure Under Section 6114 or 7701(b).”
4 days ago · Withholding tax: Collected at the source of income as a measure against tax evasion. Local taxes. Local taxes are fees imposed by Local Government Units (LGUs) to fund local initiatives. These can include: Real property tax: Applied to settle taxes in the Philippines to the value of immovable properties like land and buildings.
2 days ago · Extends the ninety-day period for the actual imposition of Withholding Tax on Gross Remittances made by electronic marketplace operators and digital financial services providers to sellers/merchants prescribed under RR No. 16-2023
1 day ago · BENEFITS. The SRRV is a lifetime visa and its holders are exempt from Bureau of Immigration requirements. SRRV-holders are also eligible to work, study or invest in the Philippines. Read More.
Your setup is that of a mixed income earner. Ask your part-time employer if they deduct withholding taxes or simply pay you without deducting anything at all, including withholding taxes. If they do the former, they will issue you a BIR Form 2316 or 2307, depending on your arrangement. Come tax time, you will need to do the tax filing yourself.
Ad
related to: withholding tax on retirement benefits philippines formWe offer consultations for every phase of the immigration process based on your situation. Navigate the foreign retirement visa maze confidently. Proven expertise at your service.
