Income Tax Computation in the Philippines
This post is a summary of all our published articles related to income tax computation in the Philippines. The deadline for filing and paying your annual income tax return, which is on April 15, is only a few days ahead. That is why I decided to share all of our available tax tips to guide everyone in their way to accomplishing their income tax returns this tax season. The following is a list of articles, guidelines and resources which aim to help you prepare, compute, file and pay your income tax due and payable with the Bureau of Internal Revenue (BIR).
For self-employed individual, those who are engaged in single proprietorship business or those who practice their profession (including freelancers, such as bloggers, website designers, website developers, internet marketers and other online entrepreneurs), this article will guide you on computing your income tax due and payable.
For corporations and taxable partnerships, this article discusses the tax rates, forms and procedures on the computation of corporate income tax.
For computing and determining you allowable expenses and deductions against your taxable income, including the limits and ceilings you should consider in claiming deductions, such as in interest expense, representation expense, bad debts and other expenses, the following articles will guide you.
For the processes, steps, procedures and BIR forms to be used in filing your income tax return with the BIR and other authorized collecting agents, this article should be read.
For the list of deadlines or due dates in filing income taxes, including quarterly income taxes payable, the following article is a must read.
For tips and ways to prevent penalties and avoid a future BIR tax audit, the following article should be learned.
If you want to file and pay your income tax but you are not registered yet with the Bureau of Internal Revenue (BIR), this article will guide you to your BIR registration.
I hope that those articles will guide and help you in the preparation and filing of your income tax returns this season. Always remember to pay your taxes earlier and file your declarations with adequate supporting evidences.