Questions on Taxation

VAT Exempt Transactions

Written by Taxumo Customer Care
Updated over a week ago

Zero Rated VAT

What transactions fall under zero-rated VAT?

Written by Taxumo Customer Care
Updated over a week ago

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.

Written by EJ Arboleda
Updated over a week ago

AIF or AFS?

Which one am I supposed to file?

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

Written by EJ Arboleda
Updated over a week ago

Which is better? Itemized or OSD?

Which one to choose

Written by EJ Arboleda
Updated over a week ago

Deduction Methods

Itemized Deduction vs Optional Standard Deduction

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

Written by EJ Arboleda
Updated over a week ago

How are my Income Taxes computed?

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.

Written by EJ Arboleda
Updated over a week ago

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

How renewal works

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.

Written by EJ Arboleda
Updated over a week ago

How are tax penalties computed?

Filing late? You can file through Taxumo too!

Written by EJ Arboleda
Updated over a week ago

Withholding Tax ATC's

Written by EJ Arboleda
Updated over a week ago

Forms You Are Filing

How do I know which forms I'm supposed to file

Written by EJ Arboleda
Updated over a week ago

What are the list of Allowable Deductible Expenses from BIR?

list of allowable deductible expenses

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

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

Written by EJ Arboleda
Updated this week

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

In short: yes you should.

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.

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

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.

Written by EJ Arboleda
Updated over a week ago

Percentage Tax Filings (2551M / 2551Q)

It's quarterly now!

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

Written by EJ Arboleda
Updated over a week ago

What is OSD (Optional Standard Deduction)?

Written by EJ Arboleda
Updated over a week ago

How do I register to the BIR as a Freelancer?

Written by EJ Arboleda
Updated over a week ago