Car loan for tax exempt individual

**jenorybee** · January 17th, 2011 04:37 PM

Hi,

I'm planning to buy my first car in the coming months through car loan.

I work for an international humanitarian agency and we are tax-exempt. What would be required from me by banks since I cannot furnish an ITR?

Thanks in advance!

**CVT** · January 17th, 2011 04:50 PM

Originally Posted by jenorybee

Hi,

I'm planning to buy my first car in the coming months through car loan.

I work for an international humanitarian agency and we are tax-exempt. What would be required from me by banks since I cannot furnish an ITR?

Thanks in advance!

Certificate of employment & salaries and wages from your employer...

11.9K:apple:

**Aslan** · January 17th, 2011 04:59 PM

Hi,

The agency you are working is tax exempt (just like any NGOs here in our country), but the salary of the employees are not tax exempt unless it falls under the minimum wage earners. You may ask your company's accountant or finance officer for your withholding tax certificate if they withhold taxes from your salary. You may use that for any loan from the bank.

If they cannot provide the withholding tax certificate, some banks honor pay slips or employer's certification that states your current salary.

I hope this will help you.

God bless!

**Aslan** · January 17th, 2011 05:04 PM

Hi,

The agency you are working is tax exempt (just like any NGOs here in our country), but the salary of the employees are not tax exempt unless it falls under the minimum wage earners. You may ask your company's accountant or finance officer for your withholding tax certificate if they withhold taxes from your salary. You may use that for any loan from the bank.

If they cannot provide the withholding tax certificate or if you are really exempted from taxes because of special laws, banks honor pay slips or employer's certification that states your current salary.

Actually, OFWs did not pay taxes here in our country and they don't have ITR, but the banks allow them to have loans. They only submit their work contract and other supporting documents.

I hope this will help you.

God bless!

**red baron** · January 23rd, 2011 02:27 AM

Originally Posted by Aslan

Hi,

The agency you are working is tax exempt (just like any NGOs here in our country), but the salary of the employees are not tax exempt unless it falls under the minimum wage earners. You may ask your company's accountant or finance officer for your withholding tax certificate if they withhold taxes from your salary. You may use that for any loan from the bank.

If they cannot provide the withholding tax certificate or if you are really exempted from taxes because of special laws, banks honor pay slips or employer's certification that states your current salary.

Actually, OFWs did not pay taxes here in our country and they don't have ITR, but the banks allow them to have loans. They only submit their work contract and other supporting documents.

I hope this will help you.

God bless!

Yeah bro BIR FORM NO 2316