I'm Giancarlo Enrico S. Pozon, a Wushu instructor, investor and Barrister... That's right, Barrister; I graduated from law school and took the Bar Exams, now I'm waiting for the results. I created this blog to make Philippine Law easy to understand for the average person. It's all about free legal advice. There are many law blogs. But the problem is that many of them are written for lawyers and law students. They use words that can't be understood by ordinary people.
Many lawyers, judges and law students consider themselves as superior to most human beings because of their knowledge of the law. It bothers me since the law is supposed to serve society. Since the law is meant to serve society as a whole, it is important that is must be understood by everybody.
This does not mean that we should all become lawyers. It means that although law is a highly specialized profession, the first duty of everybody in this profession is to make the law understandable to all; that's why all these articles are free legal advice.
Like I said, this blog is about law -but it's for the ordinary people, not the lawyers. It's for the ordinary folk so they will know what is good and bad for them, and that making them aware of the law will help us all improve society as a whole. This is free legal advice for everybody!
This is a subject that many are familiar with, but I decided to put this in writing for the benefit of those who do not know.
If the annual taxable income is:
1.) Php10,000 or less = 5%
2.) > Php10,000 but < Php30,000 = Php500 + 10% of the excess over Php10,000
3.) > Php30,000 but < Php70,000 = Php2,500 + 15% of the excess over Php30,000
4.) > Php70,000 but < Php140,000 = Php8,500 + 20% of the excess over Php70,000
5.) > Php140,000 but < Php250,000 = Php22,500 + 25% of the excess over Php140,000
6.) > Php250,000 but < Php500,000 = Php50,000 + 30% of the excess over Php250,000
7.) > Php500,000 = Php125,000 + 32% of the excess over Php500,000
Regarding taxable income, resident citizens are liable to pay taxes from their sources of income located both inside and outside the Philippines. Nonresident citizens, resident aliens and nonresident aliens doing business in the Philippines are liable to pay taxes from income located in the Philippines only. Nonresident aliens not doing business in the Philippines can still be taxed if they earn money in the Philippines (they're subject to a flat 25% final withholding tax rate on gross income.) A nonresident alien is considered to be doing business in the Philippines if he stays for more than 180 days in any calendar year. If he stays for a total of 180 days or less, he is considered as not doing business in the Philippines. This 180-day period doesn't have to be counted straight; an alien may leave at any time and come back. What matters is the total time he stayed in the Philippines. Also, the 180-day period must not be converted into months. It must be strictly followed (remember how tax exemptions, reductions and deductions are interpreted?)
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