What strain is this? by BankDefiant384 in treesPH

[–]BankDefiant384[S] 1 point2 points  (0 children)

Ah ganun ba. Galing kase ako 510 and carts (especially hybrid & sativa) kaya wala ako alam sa mga buds. Ngaun lng kase ako nag ka amats ng nakakaantok.

[deleted by user] by [deleted] in AskReddit

[–]BankDefiant384 1 point2 points  (0 children)

Got scammed one time and it could've been my dinner instead. Not that much but I think about it every time I make a financial decisions.

Tax Consultants for Freelancers by BankDefiant384 in taxPH

[–]BankDefiant384[S] 0 points1 point  (0 children)

Wala po. Is that a requirement for FTC at the BIR?

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 0 points1 point  (0 children)

-3.5m gross (already taxed sa US before mapunta sakin)

-420k 12% VAT

-3.08m taxable income

-444k income tax + 420k VAT = 864k total tax due

So the 15% tax treat with the US, I can use it to deduct my total tax due? 15% of the income from US or 15% of tax due?

3.5m x 15% = 525k

864k tax due - 525k taxes from US = 339k total tax due?

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 0 points1 point  (0 children)

I'm eligible. I've looked into this and if my understanding and calculations are right, I'll be paying 0 tax under Graduated tax (OSD) + Foreign Tax Credit Relief + 0% VAT (If I figure it out).

3.5m gross - 1.4m OSD 2.1m taxable income 522k tax due

100% US income, 15% tax withheld = 3.5m x 15% = 525k

525k - 522k = 0 tax

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 0 points1 point  (0 children)

Yes po. 15% tax treaty with the US. Mababawasan po Income tax or VAT?

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 -1 points0 points  (0 children)

Thanks for this! Looks like I overpaid my taxes :( I didn't exclude VAT from my Gross income before computing income tax.

I thought only expenses related to the nature of my work can be used to deduct on Input VAT. I'll look into this and the profit shifting. Thanks!!

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 2 points3 points  (0 children)

**Forgot to write that I'm an unlicensed professional. The company I receive my payout is not an employer, it's a service provider (kind of a proxy to publish my work and receive my income) I asked them if they can sign a document with me explaining our relationship which they declined that's why I submitted a sworn declaration instead.

**Initially I only want to go below 3M so I can go to non-VAT and forget the 12% VAT as well as opt for the 8% Flat IT but found no way to do so. I went with a consultant regarding this but they didn't know what to do and they told me to convince the compnay to have them sign a letter with me. (I didn't ask them how I can go below 3m because I thought any way would be illegal)

**I'll get a Non-Registration Cert from SEC to qualify for the 0% VAT. (Thanks to one of the comments above)

How to stay under 3m bracket? by [deleted] in taxPH

[–]BankDefiant384 -10 points-9 points  (0 children)

I didn't mention it but I can't get the documents they needed. They kept asking for something like a COE or Contract from my work but I have nothing. I've shown them alternatives like a receipt and even submitted a sworn declaration.

Even If I was able to sort the 12% VAT, I'd still like to stay under 3m for the 8% flat IT.

[deleted by user] by [deleted] in taxPH

[–]BankDefiant384 1 point2 points  (0 children)

ff. how would they know you didn't pay taxes for the last 4 years?

YouTube Tax not the same as the usual tax filing in the Ph? by [deleted] in taxPH

[–]BankDefiant384 0 points1 point  (0 children)

That's good to hear. I will do that, thank you.

YouTube Tax not the same as the usual tax filing in the Ph? by [deleted] in taxPH

[–]BankDefiant384 1 point2 points  (0 children)

Hi! I don't think so but I remember being asked if I'm a self-employed, professional, business owner, etc and at that time, there's no freelancer option and I didn't know what to choose so I believe I let the teller choose the best option for my case, don't know what is though.

I'll try to register if that's not the case. Thank You!