Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

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Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by lgusurallah13 on Mon Oct 11, 2010 10:27 am

Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by fe a. araya on Mon Oct 11, 2010 2:45 pm

Can we get the opinion of others, please? actually in my conduct of PhilGEPS training, some of the participants have the same question. I learned that in some offices, BAC honorarium is taxable while in some, not. Actually, we have one participant from the BIR (Asst. Director pa) when that same question was raised but she did not comment. It's either, she did not want to compromise those who do not impose tax or she's not aware that BAC Members are entitled to honorarium.
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by engrjhez® on Mon Oct 11, 2010 5:50 pm

fe a. araya wrote:Can we get the opinion of others, please? actually in my conduct of PhilGEPS training, some of the participants have the same question. I learned that in some offices, BAC honorarium is taxable while in some, not. Actually, we have one participant from the BIR (Asst. Director pa) when that same question was raised but she did not comment. It's either, she did not want to compromise those who do not impose tax or she's not aware that BAC Members are entitled to honorarium.

Only honoraria, overtime pay, and similar incentives exceeding P30,000.00 are taxable. May I quote our long lost friend venom:
venom.0420 wrote: x x x bonuses and other allowances in excess of Php 30,000 is taxable whether monetary and nonmonetary. Honoraria, overtime and NSD payments are 100% taxable. For employed individual taxpayers, the only deduction allowed are personal exemptions. Personal exemption effective July 1, 2008 whether single, head of the family or married is Php 50,000. For qualified dependents, additional exemption is allowed at Php 25,000.00 per dependent. Very Happy
I believe BIR personnel knows that fact. Maybe, the reason he/she did not comment is that it should be an internal issue. While some do not impose tax on honoraria (swerte nila), some 'unfortunate' like us cannot do anything about it now.

Please visit this link for a complete discussion of the matter. Smile
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by lgusurallah13 on Wed Nov 10, 2010 9:13 am

Follow-up question about the Only honoraria, overtime pay, and similar incentives exceeding P30,000.00 are taxable. Is the 30,000.00 is per project/monthly/annual?
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by engrjhez® on Wed Nov 10, 2010 11:46 am

lgusurallah13 wrote:Follow-up question about the Only honoraria, overtime pay, and similar incentives exceeding P30,000.00 are taxable. Is the 30,000.00 is per project/monthly/annual?
Annual. That covers all the honoraria (and the likes) one can receive in the entire year.
Smile
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by lgusurallah13 on Wed Nov 10, 2010 2:57 pm

Thank you...Very Happy
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

Post by engrjhez® on Wed Nov 10, 2010 5:25 pm

lgusurallah13 wrote:Thank you...Very Happy
You are welcome. Smile
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Re: Cost of bid docs (trust fund) proceeds is for BAC Honorarium now, it is taxable?

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