BIR RR 2-98 PDF

and relative to the issuance of Certificate of Value-Added Tax Withheld at September 16, , Amends the Revenue Regulations governing the. RR – Free download as Word Doc .doc), PDF File .pdf), Text File .txt) or read online for Secrets to Prevent BIR Audit and Eliminate Tax Assessments. Executive Orders · BIR Issuances RR No. , Further amends Section 9 of Revenue Regulations No. relative to the certain provisions of RR No. , as amended, to implement further amendments pursuant to RA No.

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Personal and additional exemptions 48, The amount of reward shall be equivalent to ten percent of the market value of the smuggled and confiscated goods or one million pesos P1, He received for the year, the following: The same tax treatment shall apply to Filipinos who are employed and occupying the same positions as those of aliens employed by a foreign petroleum service contractor or subcontractor.

The term “multinational company” means a foreign firm or entity engaged in international trade with its affiliates or subsidiaries or branch offices in the Asia Pacific Region and other foreign markets. Nevertheless, the legal responsibility for withholding, paying and returning the tax and furnishing such statements rests with the corporate employer.

Extends further the period for the availment of the VAAP until October 31,subject to the imposition of a progressively 2-998 additional penalty every month. Amends further pertinent provisions of RR No. Persons Required to Deduct and Withhold. Year-end adjustments computation — For taxable yearAsian Mfg. The following individuals, however, are still required to file their income tax returns: In case of dispositions of real property made by individuals to government or any of its political subdivisions or agencies or to government-owned or controlled corporations, the tax to be imposed shall be determined either under Sec.

Prescribes the rules and regulations for the effective implementation of the tax incentives provided for qualified jewelry enterprises under Republic Act No.

Such structure includes sewers and sewerage disposal plants and systems, parks, playgrounds, and other recreational works, refineries, chemical plants and similar industrial plants requiring specialized engineering knowledge and skills, powerhouse, power plants and other utility plants and installation, mines and metallurgical plants, cement and concrete works in connection with the above-mentioned fixed works.

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Amends Revenue Regulations No. Each employee shall be allowed to claim the following amount of exemptions, with respect to compensation paid on or after January 1, Amends portions of RR Nos. Newer Post Older Post Home. The excess, as computed, shall be deducted and withheld from the compensation to be paid for the last payroll period of the current calendar year. Amends further the provisions of Section 2.

2018 Revenue Regulations

The separation from the service of the official or employee must not be asked for or initiated by him. However, in case of termination of employment before December, the refund shall be given to the employee at the payment of the last compensation during the year.

Segregate the taxable compensation from the non-taxable income paid to the employee for the payroll er. Requirement for Income Payees List. Hence, the same shall not form part of the taxable supplementary compensation, of managers and supervisors, subject to the withholding tax tables.

B, head of the family with a qualified dependent parent receives P6, A Requirement of Withholding. Implements the provisions of Section 34 B of the Tax Code of relative to the requirements for the deductability of interest expense from the gross income of a corporation or an individual engaged in trade, business or in the practice of profession.

Returns and Payment of Taxes Withheld at Source. Fringe benefits granted to the following employees and taxable under Sec. Defers until June 8, the implementation of RR No. Provides the penalties for violation of the requirement that Output Tax on the sale of goods and services should be separately indicated in the sales invoice or official receipt.

However, such person shall not be entitled to a reward, should no revenue, surcharges or fees be actually recovered or collected nor shall apply to a case already pending or previously investigated or examined by the Commissioner or any of his deputies or agents or examiners, or the Secretary of Finance or any of his deputies or agents.

To Get Updates via Facebook. Amends further portions of RR No. The employer is constituted as the withholding agent.

Registration as Withholding Agent. Amends certain provision of RR No.

Tax Weekly: RR Income Payments Subject to Expanded Withholding Tax (EWT) (FULL TEXT)

Amends Section 9 of RR No. The same tax treatment shall apply to Filipinos employed and occupying the same as fr of alien employed by these multinational companies.

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This includes a married individual receiving purely compensation income whose spouse derives income from bbir. Determine the excess, if any, of the amount of tax computed in Step No.

BIR Revenue Regulations

The exemption includes not only remuneration paid for services performed by ambassadors, ministers and other diplomatic officers and employees but also remuneration paid for services performed as consular or other officer or employee of a foreign government or as a non-diplomatic representative of such government.

Use the weekly withholding bi table to compute the tax, and the tax so computed shall be multiplied by two 2 ; d Miscellaneous — if compensation is paid irregularly, or for a period other than those mentioned above, divide the compensation by the number of days from last payment to date of payment excluding Sundays and holidays.

Amends further the provision of Section 2. C Compensation paid on behalf of two or more employers. Amends further Section 3 of RR No. B’s work is irregular and he spends, the greater part of two days in completing the work.

Prescribes the regulations relative to the imposition of VAT on services of banks, non-bank financial intermediaries and finance companies beginning January bid, The employer shall then make the necessary adjustments on the withholding tax of the employee based on the new information; 2 The employer shall transmit both the original and duplicate copies of the Application or Certificate after accomplishing the portion for Employer’s information of either forms to the Revenue District Officer of the City or Municipality where the employer has his legal residence or place of business within thirty 30 days following its receipt from the employee.

Implements the provisions of the Tax Code regarding the authority of the Commissioner of Internal Revenue to abate or cancel internal revenue tax liabilities of certain taxpayers. A Person for whom the services are or were performed does not have control.

Prescribes the proper tax treatment of interest income earnings 2-9 financial instruments and other related transactions.