It’s that time of the year when we are again required to pay taxes and file our income tax returns. Some, however, are exempt from paying income tax. Minimum wage earners are not required to pay income taxes. Here’s a primer of the new law.
Archive for the 'Tax and Estate Law' Category
What is Republic Act No. 9480? It is a law, referred to as the “Tax Amnesty Act of 2007” passed by Congress granting amnesty to all unpaid internal revenue taxes imposed by the national government for the taxable year 2005 and prior years. Until when can taxpayers avail of the benefits of this law? The [...]
The settlement of a person’s estate after his/her death, based on our experience, is potentially one of the more bitter litigations. It’s never good to see relatives fighting each other. Some persons, with the intent of controlling the disposition of his/her properties after his/her death (and hopefully prevent fighting among his/her heirs over the properties [...]
SC newsflash: SC Holds DIGITEL Accountable to Pangasinan for Local Taxes. The Supreme Court recently found Digital Telecommunications Philippines, Inc. (DIGITEL) liable to the Province of Pangasinan for the payment of provincial franchise and real property taxes. The SC affirmed the ruling of the lower court that the tax exemption in Republic Act (“R.A.”) No. [...]
Among the inescapable facts in life, something which everyone shares regardless of status, race, sex or creed, is death. A person may leave properties (or liabilities) upon death, so a discussion on the basic concepts on estate proceedings is in order. Inheritance – Inheritance includes all the property, rights and obligations of a person which [...]