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    Inbound 1048726163752766124

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    Inbound 1048726163752766124

    Uploaded by

    runw1647
    6 views8 pages
    Categories

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    inbound1048726163752766124

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    Copyright:

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    6 views8 pages

    Inbound 1048726163752766124

    Uploaded by

    runw1647
    Categories

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    of 8

    and their liability

    Resident citizen
    -Filipinos residing in the Philippines
    -Filipinos living abroad but without intention of residing
    there permanently.
    Non-Resident citizen
    -One has intention to reside permanently abroad
    -OFW and Seaman
    i. Resident alien – Those who reside in the Philippines, but is not a citizen thereof.
    This include foreign individuals who stay in the Philippines has exceeded
    one year from the date of their arrival.
    ii. Not Resident alien
    • Non-resident alien engaged in trade and business in the Philippines
    (NRAETB)
    - refers to a non-resident alien who shall come to the Philippines and
    stay for an aggregate period of more than one hundred eighty (180)
    days during any calendar year.
    • Non-resident alien not engaged in trade or business in the Philippines
    (NRANETB)
    - refers to a nonresident alien who shall come to the Philippines and stay
    for an aggregate period of one hundred eighty (180) days or less
    during any calendar year.
    a. Domestic - Domestic Corporations are liable to pay
    corporate income tax from sources within or without
    b. Foreign
    i. Resident Corporations - foreign corporations engaged in trade or business in the
    Philippines;
    ii. Non- resident corporations - foreign corporations not engaged in business or
    trade in the Philippines.

    -refers to the total Value of assets and liabilities left by an individual death.
    -Agreement created by will or otherwise where the property of a grantor is transferred to
    the trustee or administrator for purposes of management or conservation of the property.
    a) Taxable Partnership

    b) Exempt Partnership

    - General Professional Partnership (GPP)

    - Joint Venture or Consortium undertaking construction activity, or engaged in


    petroleum operations with operating contract with the government.
    Taxpayers shall be classified, and be covered by these Regulations, as follows:

    A. Micro Taxpayer – shall refer to a taxpayer whose gross sales for a taxable year is less
    than Three Million Pesos (P3,000,000.00);

    B. Small Taxpayer - shall refer to a taxpayer whose gross sales for a taxable year is Three
    Million Pesos (P3,000,000.00) to less than Twenty Million Pesos (P20,000,000.00);
    C. Medium Taxpayer - shall refer to a taxpayer whose gross sales for a taxableyear
    is Twenty Million Pesos (P20,000,000.00) to less than One Billion Peso
    (1,000,000,000.00);

    D. Large Taxpayer - shall refer to a taxpayer whose gross sales for a taxable year
    1Billion Pesos (P1,000,000,000.00) and above.
    DOMINIC BANTACULO
    NICO ANTHONY PICO

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