18 Apr 2020
How to compute withholding tax on government money payments to Non-VAT suppliers/contractors?
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Bureau of Internal Revenue
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11 Apr 2020
Is it allowed to sell documentary stamp tax higher than its money/face value?
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7 Apr 2020
How to compute withholding taxes on government money payments (sample computation)
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5 Apr 2020
Is Collection Receipt as good as Official Receipt in view of COA Circular 2004-006?
Answers | Comments Post Views: 10,377
6 Mar 2020
How to compute withholding tax on compensation, including overtime pay?
Hi blessed day. May I just inquire regarding taxation? I am employed as Medical Specialist I in an LGU hospital. My appointment is casual with appointment. As a doctor, we go on 24-hours duty a day, exceeding the required minimum number of 40 hours a week. Our excess time is paid under “overtime pay”. My question is, does my overtime pay has to be deducted a 30% aside from the 30% deduction from my basic pay? Coz our accounting office does that. They deduct 30% from my basic pay. Then they also deduct another 30% from my seperate voucher for...
5 Mar 2020
How to compute withholding taxes (VAT and non-VAT-registered suppliers)?
Q: Hello po. GOCC po kami. How is 5% and 2% tax withheld when the payee is a VAT registered (utility) entity? Magbebase po ba kami sa net of 12% VAT or not? And in what cases dapat at hindi dapat i-net of 12% VAT ang pagwiwithhold ng tax? Salamat po. View Answers via our Facebook Page Post Views: 3,206
29 Feb 2020
Paano kino-compute ang Internal Revenue Allotment (IRA) ng LGUs?
Q: Good day po. I just want to ask if paano po kinu compute ang ira allocation per prov, muni, and brgy. At ano po yung codal formula sa 50% population, 25% land area and 25% equal sharing. Ano po ibig sabihin nang mga percentages na yan? Thank you po. Post Views: 1,178
17 Dec 2019
Is liquidated damages subject to tax? Is it taxable?
Q: Good day. I just want to ask for clarification with regards to liquidated damages. Is it taxable or not? I saw SGV posted a BIR ruling that liquidated damages is not taxable for VAR, but only for income tax. I just want to clarify if this would also apply for government transactions. I hope you can help me. Thanks. Post Views: 1,512
27 Nov 2019
Reminder: Don’t Use the Old Version of BIR Form Nos. 1604C, 1604F and 1604E
It’s almost yearend and it is almost time again to prepare and file yearend tax remittances. Customarily, what some do is to retrieve their previous years’ files, copy, paste, and edit to make a new file — without really taking time to check if there is a new version of the form. End result? Some commit the common mistake of using old versions of tax forms. [Read: Are you already using the new BIR Form 2306 and 2307?] We must admit that when we do not regularly visit the website of the Bureau of Internal Revenue (BIR), chances are, we...