Questions on Taxation

We have gathered the usual questions that you may have on taxes.

EJ Arboleda avatar
24 articles in this collection
Written by EJ Arboleda

My tax due is zero or negative. Should I submit my Annual ITR to the bank or to the RDO?

To the RDO! With reservations.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

AIF or AFS?

Which one am I supposed to file?
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Do I need an Audited Financial Statement (AFS)?

AFS is now only required for those earning more than Php 3 Million / year
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Which is better? Itemized or OSD?

Which one to choose
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Deduction Methods

Itemized Deduction vs Optional Standard Deduction
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Should I still file my ITR even if I'm technically exempted from doing so?

Answered from the experience of a taxpayer
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

How are my Income Taxes computed?

EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

How do I file a 1701Q for Q4?

Short answer: You don't! You file the Annual instead.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

I renewed from Taxumo - when can I get my new COR?

How renewal works
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Do I need to renew my books of accounts every year?

If manual books, no. If looseleaf, yes.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

How are tax penalties computed?

Filing late? You can file through Taxumo too!
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Withholding Tax ATC's

EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Forms You Are Filing

How do I know which forms I'm supposed to file
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

What are the list of Allowable Deductible Expenses from BIR?

list of allowable deductible expenses
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Am I supposed to withhold taxes?

How to know if you're supposed to withhold taxes
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

All about deadlines

These are the deadlines for filing that you need to take note of
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

My clients are not from the Philippines - should I issue OR's

In short: yes you should.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

I filed and paid my 2551M, will I get that back?

Paid thru Taxumo? Yes. Otherwise... read on.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Do I need a COR to file my taxes?

Short answer: YES if you're a self-employed individual or professional
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

My Client Withholds some taxes for me - that means I'm done right?

Your client withholds taxes. You still need to file your own tax returns.
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

Percentage Tax Filings (2551M / 2551Q)

It's quarterly now!
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

My Tax Dues are too high! Help!

How your tax dues are computed for 2551M and 1701Q
EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

What is OSD (Optional Standard Deduction)?

EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago

How do I register to the BIR as a Freelancer?

EJ Arboleda avatar
Written by EJ Arboleda
Updated over a week ago