Mr Lee Posted May 9, 2009 Posted May 9, 2009 Does the Philis really need any other tax but the VAT tax?Is anyone on here paying any other Philippine tax and filing a Philippine tax return? How hard is that to do and what is involved? What is the minimum a person has to earn here to be subject to taxes here? I was told p100,000, is that true?I have to wonder where all the tax money goes? OK, we all know it is lining some of the government peoples pockets but how much is being spent here that is subject to VAT? and how much does that add up to? I wonder if those figures are available?I know they take VAT on almost all purchases and they also take money out of the little bit of bank interest we get on our accounts here, so we are already paying our share of taxes here IMO without even earning any money here. Link to comment Share on other sites More sharing options...
Forum Support Old55 Posted May 9, 2009 Forum Support Posted May 9, 2009 Other than the Long Nose Rich Kano tax? :SugarwareZ-034: Link to comment Share on other sites More sharing options...
Markham Posted May 9, 2009 Posted May 9, 2009 Does the Philis really need any other tax but the VAT tax?Is anyone on here paying any other Philippine tax and filing a Philippine tax return? How hard is that to do and what is involved? What is the minimum a person has to earn here to be subject to taxes here? I was told p100,000, is that true?Why would anyone want to do that? The Philippines has a reciprocal tax arrangement with most countries in the world meaning that if you pay taxes in your native country, you don't pay tax on money you bring here. However, if you wish, you can apply for a TIN from BIR and get a certificate from them which states that you are paying Philippines tax. This you can give to the tax authority in your country and you'll stop paying taxes there. But you're really, really dumb if you do that! Philippine tax is somewhat higher than in the US, UK and most western countries.they also take money out of the little bit of bank interest we get on our accounts hereNot from my bank account! Link to comment Share on other sites More sharing options...
Mik Posted May 10, 2009 Posted May 10, 2009 SEC. 23. General Principles of Income Taxation in the Philippines. - Except when otherwise provided in this Code: (A) A citizen of the Philippines residing therein is taxable on all income derived from sources within and without the Philippines; (B) A nonresident citizen is taxable only on income derived from sources within the Philippines; © An individual citizen of the Philippines who is working and deriving income from abroad as an overseas contract worker is taxable only on income derived from sources within the Philippines: Provided, That a seaman who is a citizen of the Philippines and who receives compensation for services rendered abroad as a member of the complement of a vessel engaged exclusively in international trade shall be treated as an overseas contract worker; (D) An alien individual, whether a resident or not of the Philippines, is taxable only on income derived from sources within the Philippines; (E) A domestic corporation is taxable on all income derived from sources within and without the Philippines; and (F) A foreign corporation, whether engaged or not in trade or business in the Philippines, is taxable only on income derived from sources within the Philippines. http://www.bir.gov.ph/taxcode/1560.htm Link to comment Share on other sites More sharing options...
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