1970-01-01 - 1970-01-01
Taxes are a means by which the government collects from its citizens who have an income according to certain criteria, in order to use the funds for the development of various areas of the country.
1970-01-01 - 1970-01-01
Personal Income Tax is a tax collected from the general public who have any type of income. Unless there are laws granting exemptions, they are subject to tax.
1970-01-01 - 1970-01-01
Paying taxes is a crucial responsibility of every citizen as it provides revenue for the government. This revenue is allocated to the national budget for managing the country.
1970-01-01 - 1970-01-01
The submission of the Personal Income Tax Return has two periods
1970-01-01 - 1970-01-01
In calculating personal income tax, the law stipulates that each type of income can deduct expenses (operating costs) first
1970-01-01 - 1970-01-01
Every individual with income has the responsibility to file and pay personal income tax. The Revenue Department has established a minimum assessable income level for individuals required to file a tax return.
1970-01-01 - 1970-01-01
Withholding tax is a form of tax payment where the payer is responsible for deducting tax at the source and submitting it to the Revenue Department.
1970-01-01 - 1970-01-01
"Withholding income tax" refers to a method of prepaid tax collection. The law mandates that the payor must deduct taxes from the income paid to the recipient each time such income is disbursed.
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