QuestionsQuestions (BIR REVENUE REGULATIONS NO. 30-2003)
It is pursuant to Section 244 in relation to Sections 57(A) and (B) of the Tax Code of 1997.
It takes effect on January 1, 2004.
Six percent (6%) based on the gross selling price or the fair market value (as determined under Sec. 6(E) of the Tax Code), whichever is higher.
Yes. The regulation expressly includes pacto de retro sales and other conditional sales, based on the gross selling price or fair market value, whichever is higher.
The procedures under Sec. 2.57.2(J) for ordinary assets apply, except that the withholding tax on the sale of capital assets shall be final, while the withholding tax on ordinary assets is creditable.
The tax may be determined either under Sec. 24(A) (normal income tax) or under Sec. 24(D)(1) (final tax on presumed capital gains at 6%) at the option of the taxpayer-seller.
Six percent (6%) based on the gross selling price or fair market value as determined under the applicable authority for real property values, whichever is higher.
Fifteen percent (15%) if the gross income for the current year exceeds P720,000; otherwise, Ten percent (10%).
By periodically disclosing gross income for the current year to the BIR through a notarized sworn declaration (Annex “A”), submitted to the proper BIR division, and furnishing the payor with a duly stamped copy.
The payor must withhold at the rate of 15%.
The said fees shall be considered as supplemental compensation and thus subject to the withholding tax on compensation.
Fifteen percent (15%) if income payments to the partner for the current year exceed P720,000; otherwise Ten percent (10%).
Fifteen percent (15%) if income payments for the current year exceed P720,000; otherwise Ten percent (10%).
They must remit taxes withheld from the professional fees, including cases where payments originate from HMOs to practitioners or from patients via hospitals/clinics, and ensure accurate computation and timely remittance.
It refers to suppliers/sellers of agricultural, forest and marine food and non-food products, livestock and poultry of a kind generally used as, yielding or producing foods for human consumption, including breeding stock/genetic materials, with livestock, poultry, and marine products defined in the regulation.
Unjustifiable refusal of the seller/income earner to be subjected to withholding is a ground for mandatory audit of the income tax liabilities (including withholding tax) upon verified complaint of the buyer-payor.