Blog Posts on income taxes

Casiño Urges Congress Passage of Bill Supporting Filipino Local Artists by PINOY WORLD on Feb 18, 2011Bayan Muna Rep. Teddy Casiño is pushing for the passage of a bill exempting concerts by local artists from amusement taxes “in order to give Filipino music artists substantial support in the face of the influx of foreign acts that are at times eve...

What benefits can persons with disability enjoy? by pinoytaxation.com on Aug 18, 2009Republic Act No. 9442 amending the MAGNA CARTA FOR DISABLED PERSONS had been approved on April 30, 2009 and introduced specific benefits and privileges to persons with disability in relation to its purchases of certain goods or services, protection f...

What benefits can disable persons enjoy? by pinoytaxation.com on Aug 18, 2009Republic Act No. 9442 amending the MAGNA CARTA FOR DISABLED PERSONS had been approved on April 30, 2009 and introduced specific benefits and privileges to persons with disability in relation to its purchases of certain goods or services, protection f...

15% income tax to expats, when applicable? by pinoytaxation.com on Aug 17, 2009Revenue Memorandum Circular No. 41 – 2009 dated July 23, 2009 (RMC 41-2009) was issued to clarify the meaning of “Managerial and Technical Positions” under Section 25(C) of the Tax Code, as amended. Compared to the normal tax rate of 5-32% brac...

Tax-exempt compensation, you like it? by pinoytaxation.com on Aug 13, 2009In general, allowances and other form of compensation income, are taxable, irregardless of how they are called. However, there are noted exceptions on this rule by virtue of a law or a regulations. For sure, they will make employees happier because n...

What is an income for tax purposes? by pinoytaxation.com on Aug 13, 2009Income refers to all wealth which flows to the taxpayer other than a mere return of capital. It is a flow wealth that goes into the taxpayer within a specified time, arising from the use of capital, use of labor through either physical and/or intelle...

Withholding tax system, how it works? by pinoytaxation.com on Aug 13, 2009Withholding tax system in the Philippines is quite an interesting topic for those engaged in trade or business, or those in practice of profession. This is a system of advance collection scheme where the approximate income tax of a specific income pa...

Corporate dividends, how taxed? by pinoytaxation.com on Aug 9, 2009In a corporate world, dividends is not a new topic. As a matter of fact, it is one of the major consideration for an investor to purchase shares of stock of a company. It represents the share in the net earnings distribution of a stockholders who own...

How withholding taxes on compensation works? by pinoytaxation.com on Aug 7, 2009As a rule under the regulations, employers are appointed withholding agents who shall withhold corresponding taxes on compensation. This is to ensure that employee’s taxes are being paid so that if an employee is under the employ of a single em...

Tax on renting aparment, condo, and other residential dwellings by pinoytaxation.com on Aug 6, 2009This post covers tax implications of renting residential dwellings such as an apartment, condominium unit, and a house and lot in both sides-the lessor or owner and the lessee or tenant. Tax implication would depend on the monthly rental of such unit...