I’ve been really busy researching for some tax projects, with preparing for training to be conducted and with sharing my awesome doTERRA experience with other people. Please forgive me for slacking a bit. I have several drafts on my plate but I am not yet ready to publish them. There’s not much from BIR issuances … Read More
You don’t always get to choose between things when it comes to taxation, so make the right choice – 8% or regular income tax?
The BIR issued the revised BIR Form No. 1701Q (Quarterly Income Tax Return) January 2018 (ENCS) in conformity with the provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Yes, filing of withholding tax returns had become quarterly but wait, amount withheld still needs to be remitted monthly using the BIR Monthly Remittance Forms, BIR Form Nos. 0619E and/or 0619F.
So we have just filed our first BIR Form No. 1601EQ. It would be hard to miss that the new expanded withholding tax rates for individuals are already reflected in the new form pursuant to Revenue Regulations No 11-2018 (RR 11-2018) and Revenue Regulations 14-2018 (RR 14-2018). Here’s a comparison between the new tax rates… Read More
The BIR issued Revenue Regulations No. 13-2018 implementing the VAT provisions of Republic Act No. 10963 (TRAIN) by amending certain provisions in RR 16-2005 (Consolidated VAT Regulations of 2005). Below are the main provisions as identified by Navarro Amper & Co in their Tax News April 2018.
Revenue Regulations No. 11-2018 amended several tax regulations on withholding tax to implement further the provisions in Republic Act No. 10963 (TRAIN). Here are items highlighted in Navarro Amper & Co. DTTL Tax News April 2018.
New friends for your storage and filing cabinets, BIR Forms 1601EQ and 1601FQ.
Goodbye BIR Form 1601E – hello BIR Form 0605 – see you soon BIR Form 1601EQ?
Effective January 1, 2018, Filipino workers like me will have higher take-home pay due to the lower income tax rates*. Yey!