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Honoraria...Taxable???

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Honoraria...Taxable???

Post by gulamsky on Tue Aug 25, 2009 10:57 am

our provincial accountant recently applied tax ranging from 20% - 40% to the honoraria received by BAC members.

is it really taxable?

thanks,

Ralf
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Re: Honoraria...Taxable???

Post by riddler on Tue Aug 25, 2009 12:31 pm

gulamsky wrote:our provincial accountant recently applied tax ranging from 20% - 40% to the honoraria received by BAC members.

is it really taxable?

thanks,

Ralf

we had a very good discussion on this matter at the other forum, kindly click the link below ralf.

http://gppb.topicsolutions.net/suggested-ra-9184-amendments-f6/honoraria-of-bac-members-secretariat-and-twg-t25.htm?highlight=taxable+honoraria
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Re: Honoraria...Taxable???

Post by engrjhez® on Tue Aug 25, 2009 3:25 pm

ruel wrote:
we had a very good discussion on this matter at the other forum, kindly click the link below ralf.
Ha ha! Still remember those days!

The irony or government service:

Taxpayer: "Hoy mga kawani ng gobyerno, pagbutihin nyo ang pagttrabaho at buwis namin ang ipinambabayad sa inyo!"

Gov't Employee: "Hoy! taxpayer din kami. Binabawasan din kaya kami ng tax? Baka mas malaki pa kesa ibinayad mo!!"

pirat
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Re: Honoraria...Taxable???

Post by gulamsky on Tue Aug 25, 2009 3:26 pm

thanks for the link...
...so we got lucky that before it was not taxed. hehehe
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Re: Honoraria...Taxable???

Post by sunriser431 on Tue Aug 25, 2009 4:48 pm

gulamsky wrote:thanks for the link...
...so we got lucky that before it was not taxed. hehehe
Not really, Because finance people, went it comes to deduction they are good at it,(no offense intended, peace to Accountants Smile ). At the end of the year, all benefits will be added to recompute the total annual compensation tax, any adjustments (refund or Payment) will be made to comply the BIR requirement to "Break even" at the end of the taxable year.
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