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 that are related to what I do as well. Even so, I’d still want to connect and help others be updated so here are items highlighted in Navarro Amper & Co. DTTL Tax News July 2018.
You don’t always get to choose between things when it comes to taxation, so make the right choice – 8% or regular income tax?
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 and the old ones.
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. Continue reading
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? Continue reading
Effective January 1, 2018, Filipino workers like me will have higher take-home pay due to the lower income tax rates*. Yey!