TRAIN Law

  • Author
    Posts
  • #5261

    Charles
    Participant

    So, if i understand the new TRAIN law right, if i earn a gross of 250k/month or 3M/yr, and with the personal deductible 250k annual, taxable income becomes 2.75M and 8% payable tax is 220,000 /yr (if i don’t declare any expenditures) is my interpretation right?

  • #5262

    Joyce
    Participant

    Gross should be less than 3M to qualify to the 8% option. Expenses is no longer relevant in the computation if to avail 8% tax. Yes, it is gross less 250k then multiply to 8%, less CWT if any.

  • #5263

    Thomas Chan
    Participant

    Novat TP lang po ang allowed mag-avail ng 8% option right?

  • #5264

    Dante Reyes
    Participant

    Purely self-employed individuals and professionals with Gross Sales/Receipts not exceeding 3M can avail the 8% Rate base on Gross in lieu of the Graduated Rates and Percentage Tax.

You must be logged in to reply to this topic.

© EAA 2007. All rights reserved.

Login

Register

FACEBOOKGOOGLE Create an Account
Create an Account Back to login/register
X