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Percentage tax is a business tax imposed on persons or entities/transactions: who sell or lease goods, properties or services in the course of trade or business and are exempt from value-added tax (VAT) under Section 109 (w) of the National Internal Revenue Code, as amended, whose gross annual sales and/or receipts do not exceed Php 3,000,000 ...
Most taxpayers receive their refunds within 21 days of filing. If you choose to have your refund deposited directly into your account, you may have to wait five days before you can gain access to it.
To strictly enforce the payment of taxes and to further discourage tax evasion, RA No. 233 or the Rewards Law was passed on June 19, 1959 whereby informers were rewarded the 25% equivalent of the revenue collected from the tax evader. In 1964, the Philippines was re-divided anew into 15 regions and 72 inspection districts.
Here’s how to make sure you get your tax refund as quickly as possible. E-file and use direct deposit to avoid delays If you’re relying on your refund, file early and electronically, and use ...
You might be looking forward to your tax refund, but you don’t have to wait in the dark. Learn how to track the status of your refund and expedite the process.
Section 284 of the Local Government Code of the Philippines (RA 7160) sets up the formula for the distribution of the allotment. All or nearly all of the revenue that a local government has to spend comes from their IRA, though some local governments also have additional local sources of revenue such as property taxes and government fees.
Income taxes, for savvy taxpayers, tend to be viewed as a year-round experience rather than a single event. As the filing date approaches, taxpayers can prep now to ensure they receive the best...
Despite coming at the same time every year, millions of Americans have a tendency to feel anxious and helpless about filing their returns. There are even stories of those who, knowing they are ...
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