Monday, April 14, 2008

Taxes, Filing, Payment and Rebates

Tomorrow, April 15, is the deadline for tax filing and payment for the calendar year 2007. For those e-filers, it will be traffic in the web. You'd wished you had filed a month earlier.

In the past, employees are required to file ITR. Now, only the mixed earners are required. If you are earning purely on compensation, then you are not required to file. The BIR form 2316 employers give to the employee would suffice.

Are online earnings taxable? In the strictest sense, it is. There isn't any guideline on this yet. Maybe in the future. I think there is a sponsored post company that requires you to give your TIN if you from the US. It is most probably for tax purposes. They withhold something for tax and remit it to the IRS.

Many US tax filers get rebates. Good for them. We don't have that in RP, and if there is, it's a long process. Consider it a donation.

And speaking of taxes, I didn't know there is a "tax" in the advert sales and purchases in Entrecard. I only know about it late last week. What is it for?

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