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The Bureau of Internal Revenue [2] ( Filipino: Kawanihan ng Rentas Internas, or BIR) is a revenue service for the Philippine government, which is responsible for collecting more than half of the total tax revenues of the government. It is an agency of the Department of Finance and it is led by a Commissioner.
Income tax for individuals. Citizens of the Philippines and resident aliens must pay taxes for all income they have derived from various sources, which include, but are not limited to: compensation income (e.g., salary and wages ); income of self-employed individuals and/or professionals; capital gains; interests; rents;
Flat tax of 8% on gross sales or gross revenues in lieu of percentage tax and personal income tax. "TRAIN aims to clean up the VAT system to make it fairer and simpler and lower the cost of compliance for both the taxpayers and tax administrators". As such, VAT exemptions are now only limited to health, education and raw agriculture food.
A community tax certificate ( Filipino: sertípiko ng buwís pampámayanan) or sédula (from Spanish cédula ), sometimes confused as residence certificate, is a legal identity document in the Philippines. Issued by cities and municipalities to all persons that have reached the age of majority and upon payment of a community tax, it is ...
Social Security Income is Taxable. “Up to 85% of your Social Security benefit might be included in your taxable income,” said Justin Pritchard, CFP at Approach Financial, Inc. “That’s a ...
The following breakdown will guide you through the eligibility requirements by section. 1. State of Residence. If you lived in any of the following states for all of 2023 and earned all of your ...
If you file Form 2555 or 4563. If you are a dual-status alien. You will use these addresses to mail your tax return. Address if You Are Enclosing a Payment. Address if You Are Not Enclosing a ...
The Income Tax Act, 1961, and the Income Tax Rules, 1962, require citizens to file their tax returns with the Income Tax Department at the end of every financial year and this form is a part of the filing process as specified by the Government of India. The due date for filing return with the Income Tax Department of India is 31 July every year.