Questions on Taxation

VAT Exempt Transactions

Written by Taxumo Customer Care
Updated over a week ago

CREATE: How to compute your excess percentage tax

Written by EJ Arboleda
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 over a week ago

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