Approved Train Law of the New Philippine Tax Reform 2020

approved train tax law in the Philippines
Here are the lists of 13 approved tax reform in 2018 under the RA 10963 signed by the President of the Republic of the Philippines and implemented on the 1st day of January 2018. This update includes the new income tax rates, documentary stamp tax, donor's tax rate, estate tax, excise taxes, fringe and de minimis benefits and other approved train tax law reform.
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Withholding Tax and Tax Rates under Train Law

photos shows calculator to compute withholding tax
Here are the updates of withholding tax in the Philippines under the new tax reform- TRAIN law 2018. It includes the updated withholding tax rates. The definition of the withholding tax is also well define. What are the income subject to withholding tax for a citizen, resident alien in the Philippines?. There are other income received by the resident citizen subject to withholding tax rate.
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BIR Extends Deadline for Online Business Registration

Online Business Registration Extensions
Businesses involved in the selling of goods and services through digital transactions (online stores) have until August 31, 2020, to register or update their registration information with the Bureau of Internal Revenue (BIR) without the imposition of penalties. This Revenue Memorandum Circular (RMC) No 75-2020 issued by the BIR on July 29, 2020.
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Income Tax Train Law and New Tax Rates 2021

photo with income tax written
These are the things you should know before filing your income tax this year under TRAIN law 2018. If you are a student who is studying taxation, these things will help you to understand the new income tax in the Philippines under the RA 10963 otherwise Known as the Tax Reform for Acceleration and Inclusion (TRAIN) Act. Learn 6 things about the new income tax ratw 2018.
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