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.
In this article you will find five (5) easy and understandable tips. Before you come to this point, make sure you understand the concept of the estate tax in the Philippines. If you haven’t read yet about the estate tax, well you can click this link Philippine Estate Taxation Under TRAIN Tax Law 2018.
If you bought real properties, make sure to have complete documents including the estate tax…
June 29, 2018, new amendment was issued by the Bureau of Internal Revenue (BIR) for further amendments of section 10 of RR No. 10-2010 under the “Notice to Taxpayers”. The government has the legal right to provide tax information upon request of the foreign tax authority.
There are taxes that are imposed on the documents, instruments, loan contracts and papers proving the sale or transfer of an obligation, rights or property or acceptance and assignment. These excise taxes are called as Documentary Stamp Tax (DST) in the Philippines.
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.
Updates about the new interest rate on tax deficiency in the Philippines. This will help to know what is double imposition of interest rate.
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.
This article will help to identify those persons who is required to register in the Bureau of Internal Revenue in the Philippines. Here are the list of persons who are required to secure or get Tax Identification Number.
You might be wondering why many business establishments were forced to close their business or you might hear from you fried that he paid tax penalties during tax mapping. For sure, you don’t want those things to happen to you? Isn’t it? If yes, you will learn this very important 9 facts to avoid tax penalties or closure of your business during tax mapping.