Table of Contents
What is RR in BIR?
Revenue Regulations (RR) are issuances signed by the Secretary of Finance, upon recommendation of the Commissioner of Internal Revenue, that specify, prescribe or define rules and regulations for the effective enforcement of the provisions of the National Internal Revenue Code (NIRC) and related statutes.
What is the rule of BIR?
BIR Rulings are the official position of the Bureau to queries raised by taxpayers and other stakeholders relative to clarification and interpretation of tax laws.
Is tax unlimited in amount?
Tax is generally unlimited because it is based on the needs of the State. The amount imposed in the exercise of police power depends on whether the activity is useful or not. The distinction of a tax from permit or license fee is that a tax is one in which there is generally no limit on the amount that may be imposed.
Who is the secretary of BIR?
Caesar Dulay is the current Commissioner of BIR.
Which is an indirect tax?
Indirect taxes are typically added to the prices of goods or services. Sales tax, value-added tax, excise tax, and customs duties are examples of indirect taxes.
What is revenue Regulation 9 2021 all about?
The Secretary of Finance has issued RR No. 9-2021 to implement the imposition of the 12% percent VAT on certain sales transactions previously considered as zero-rated sales.
How much is the tax in Philippines?
Income Tax in the Philippines
| Amount of Taxable Income (PHP) | Rate |
|---|---|
| Up to 250,000 | 0% |
| Over 250,000 – up to 400,000 | 20% of the excess over P250,000 |
| Over 400,000 – up to 800,00 | P30,000 + 25% of the excess over P400,000 |
| Over 800,00 – up to 2,000,000 | P130,000 + 30% of the excess over P800,000 |
What are the positions in BIR?
Management Committee.
Is VAT indirect tax?
VAT, excise duties and other minor industry specific duties and levies are also known as indirect taxes.
What is 12 VAT in the Philippines?
On June 12, 2021, the Philippines issued Revenue Regulation (RR) No. 9-2021, which introduces a 12 percent value-added tax (VAT) rate on certain sales transactions that were previously taxed at zero percent. The new regulation came into effect on June 27, 2021.
What are zero rated transactions?
Under zero-rated (0% VAT) sales rule, the seller does not impose the 12% value added tax in the Philippines to the buyer who is within the Philippines or abroad.
What salary does not pay taxes?
In 2021, for example, the minimum for single filing status if under age 65 is $12,550. If your income is below that threshold, you generally do not need to file a federal tax return. Review the full list below for other filing statuses and ages.
How much is the personal exemption for 2021?
0
The personal exemption for tax year 2021 remains at 0, as it was for 2020; this elimination of the personal exemption was a provision in the Tax Cuts and Jobs Act.