Income Tax
What is Income Tax?
What is Income Tax?
This is tax imposed on Net Taxable Income that is computed from Gross Income derived within and outside the Philippines less Allowable Deductions.
This is tax imposed on Net Taxable Income that is computed from Gross Income derived within and outside the Philippines less Allowable Deductions.
Who are Liable to Pay Income Tax?
Who are Liable to Pay Income Tax?
- Individual
a. Compensation Earners (Employees)
b. Self Employed/Professionals
c. Mixed Income Earners
d. Estate/Trust
- Non-Individuals - Corporation/Partnership
