Beruflich Dokumente
Kultur Dokumente
RPT
CMTA
Importation
3. Begin – enters the territorial jurisdiction of the Philippines for the purpose of importing
4. End – at the time the duties are paid
NIRC
SELF DECLARATION – you tell them how much youll pay depending on how much you earn.
False return (inadvertent) – 3 years
amend return 3 years from filing, provided that no notice of assessment is received by the taxpayer
amend to increase the tax due, not to decrease the tax due. Meaning, yung increase is subject to
penalties, interests, and surcharges
False with intent to evade payment– 10 years from discovery of falsified return
Fraud – 10 years from discovery of fraudulent return
RETURN
- CIE: 15 April, the following year, unless substituted filing is allowed
o Substituted filing – one employee, only one employer, employer files in behalf of
employee – February 28 due
- SEP/SEI/MIE
o 15 May
o 15 August
o 15 November
o 15 April the following year
- Corporation
o 3 quarterly returns – within 60 days from the close of each quarter
o 15 April – consolidated; 15th day of the fourth month on the close of month after the
fiscal year
o 10th day of the following month – for CIE
o 20th day of the following month – VAT monthly
Quarterly – 25th day of the close of the quarter
- donors tax – 30 days from gift
- estate tax – 6 months from death
- WRONG VENUE = NON FILING
o Tao - residence or place of work
o Business – principal place of business
Branch
112 V. 228
VAT REFUND
Refund from zero-rated sales Erroneously made
Illegally made
2 years from the close of the taxable quarter 2 years from the date the tax was paid
from when the relevant sales were made
2 years only for admin claim 2 years for admin and judicial claim
INCOME TAX VAT DONORS TAX ESTATE TAX
taxability Source of income Sale of goods Location Location
Sale of services
Importation of goods
taxpayers Within and without: Someone engaged in trade or Donors Decedent or estate
RC – stay in the Philippines is business
more or less permanently RC – within/without RC – within/without
NRC NRC – within/without NRC – within/without
NRA – within/without NRA – within/without
Within only: NRA – within NRA – within
RA
NRAETB – 180 day period Sec. 104 Sec. 104
NRANETB NRA with franchise, shares, NRA with franchise, shares,
DC obligations of corp 85% of obligations of corp 85% of
RFC which is in the Phils., which is in the Phils., Philippine
NRFC Philippine situs, SUBJECT TO situs, SUBJECT TO
RECIPROCITY RULE, deemed RECIPROCITY RULE, deemed
located in the Phils., so taxable located in the Phils., so taxable
here here
Taxable 12 months (fiscal or calendar)
period
Compute Revenue – expense
Cash basis
Accrual basis
Installment basis
Crop basis
Exempt Individuals: Sec. 109 NIRC: Deductions: Merger of usufruct to the
PCSO/lotto winnings Lease of residential unit – Dowries or gifts owner of naked title
Long-term deposits which you 12800 Transfers in favor of the Transfer from fiduciary to
do not pre-terminate for five Sale of residential lot – government fideicommissary
years 1919500 In favor of various
organizations (not more than
Sale of RP located in the Phils., Sale of house and lot – 30% is used for admin Transfer IFO of various
capital asset, to purchase or 3199200 purposes) organizations (not more than
build a home in the next 18 Sale of agri food products in 30% for admin purposes)
months the original state (simple Exempt:
MWE for statutory minimum procedures for preservation) Recipient is government Funeral expense
wage, regardless of w/n he has ER/EE relationship Charitable, religious, Judicial expense
other sources of income Gross sales do not exceed educational institution (subject Claims against insolvent
NSD/OT/Holiday pay etc. of 1919500 (but pay percentage to 30% admin) persons
MWE tax of 3%) Political party or campaign Claims against the estate
De minimis within limits candidate Transfers for public use
Casualty loss
Corporation: Family home
Standard deduction
Other: Life insurance: Zero rated: Stranger – 30% donor’s tax Life insurance:
Profit not taxable VATable at 0% Related – 2 to 15% Revocable – taxable
Interest taxable (BY BLOOD ONLY, descendant, Irrevocable and designated
Return of premium not taxable ascendant, collateral within 4th person other than himself,
degree, spouse) executor, administrator – not
Compensation: taxable
Only actual damage is
excluded
Retirement benefits:
SSS, GSIS, US Veterans Act,
private retirement plan
(50yo/10 yrs continuous
service; once; duly approved
by BIR)
Government sector all are
income but not subject to tax
Separation pay:
Causes attributable to
employer or beyond the
control of the employee – no
tax
Causes attributable to
employee - tax
ONLY for DC/RFC
MCIT – 2% is of gross income is higher than NiT of 30%
IAET – 10% of retained earnings, beyond necessary business needs; it is in addition to other taxes
NOLCO NCLCO
Corporation Individual
Expense is more than revenue LUGI Loss is sustained in exchanges of capital asset
3 years carry over 1 year carry over
MCIT comes in on the 4th year. No MCIT (kasi individual)
Which is higher? NIT or 2% on the gross?