Latest Train Law Issuance 2019

Are you looking for 2019 tax updates in the Philippines? Well, this article summarizes the tax updates for this year 2019. What are these updates that you should know? These updates include first, new tax rates for life insurance and insurance in a foreign insurance company. Second, the creditable withholding tax for top withholding agents for their purchases of goods and services on their suppliers. It also defines who are the top withholding agent.

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Withholding Tax Train Law

Here are the updates of withholding tax in the Philippines under the new tax reform- TRAIN law 2018. It includes the updated withholding tax rates. The definition of the withholding tax is also well define. What are the income subject to withholding tax for a citizen, resident alien in the Philippines?. There are other income received by the resident citizen subject to withholding tax rate.

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How to Compute Delinquent Interest on Tax Due 2019?

Recently the Bureau of Internal Revenue(BIR) issued the Revenue Regulation no. 21-2018 to impose the new interest rate on deficiency tax due. This regulation was issued on September 14, 2018. The previous interest rate on deficiency tax due was 20% and it decreases due to the implementation of train law 2019 to 12%. Here is the details on the new interest rate on deficiency tax due for this year 2019.

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Value Added Tax (VAT) under Train Tax Law

On March 15, 2018, Bureau of Internal Revenue in the Philippines issued the RR NO. 13, 2018. This regulation issued is to implement the Value Added Tax provisions under the Tax Reform for Acceleration and Inclusion (TRAIN). What are the updates about VAT under train tax law 2018? Let’s discuss it.

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Top 10 Questions Regarding Registration with BIR

What question do you have in mind regarding TIN number in the Philippines? I know all of us has different questions regarding TIN. Some of these questions are: Who are required to register with BIR?, Is your business required to register annually? Is your business exempted from paying the Annual Registration Fee? I know you still have many questions in mind. Here are the top ten (10) common questions people ask regarding registration with BIR.

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How to Get TIN Number?

Every Filipino in the Philippines is required to get TIN number. Do you want to know how to get the tin number? Here are the things you should know about how to get a tin number in your local BIR office. Learn these five (5) simple and easy steps in getting your TIN in the Philippines as fast as you can. Let’s talk first about “what is Taxpayer Identification Number (TIN)? And why do you need it? Let’s start with the meaning of TIN.

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