TRAIN Tax Law thread

[dreamur]

From TRAIN to CITIRA to CREATE

Karl Chua is very creative.

Citira, now CREATE, cuts CIT to 25%; means P259 billion in revenue loss till 222 | BusinessMirror

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[dreamur]

Diba admin or mod lang may corona? Naku may beerus si kags! Double corona oh!

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[ice15]

Income tax breaks await Filipinos in 2023 | Manila Bulletin

But other taxpayers in higher income brackets, except those who are earning more than P8 million, will enjoy lower tax rates ranging from 15 percent to 30 percent by 2023.

Effectively, it decreased the tax rates by five percent for those with taxable income of more than P250,000 up to P2 million, while a two percent reduction in tax rate was noted for those individuals earning of more than P2 million up to P8 million.

[Tha_Mann]

Income tax breaks await Filipinos in 2023 | Manila Bulletin

sana ma-implement na this coming payday hehe

[yubby24]

sana ma-implement na this coming payday hehe

Can't wait na rin.

[111prez]

The BIR media release on the lower individual income taxes for 2023 ....



You can use the new computation/table upon filing of ITRs this April so effectively, it is for the income earned in 2022.

[_Qwerty_]

it says starting Jan. 1, 2023 and onwards.. so hindi pa kasama yung 2022..

The BIR media release on the lower individual income taxes for 2023 ....



You can use the new computation/table upon filing of ITRs this April so effectively, it is for the income earned in 2022.

[Ry_Tower]

it says starting Jan. 1, 2023 and onwards.. so hindi pa kasama yung 2022..

Yup. Jan. 1, 2023 rates are for income earned starting 2023 and does not cover 2022.

[111prez]

Yup. Jan. 1, 2023 rates are for income earned starting 2023 and does not cover 2022.

So you will have to distinguish the income earned in 2022 and the income earned in 2023 when filing your 2023 ITR?

[Tha_Mann]

So you will have to distinguish the income earned in 2022 and the income earned in 2023 when filing your 2023 ITR?

alam ko no bearing yung earnings mo nung 2022 sa pag file mo ng 2023 ITR. yung i-file natin ngayon na ang deadline eh sa April eh yung earnings natin last 2022.

[Ry_Tower]

So you will have to distinguish the income earned in 2022 and the income earned in 2023 when filing your 2023 ITR?

Yes. That is the general rule. Income from Jan. 1, 2022 to Dec. 31, 2022 ang basis ng April 15, 2023 ITR.