THE BASICS OF PHILIPPINE TAXES | PHILIPPINE TAX TYPES | Philippine Taxes 101

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Philippine taxes? Check out Taxumo now: https://txmo.co/ready2adult 10% Discount Code: ready2adultph Taxes in the Philippines or taxes in general can be quite confusing and the majority of the content online are long articles of words we don’t understand. I made this introduction to taxes and types of taxes in the Philippines to help out individual taxpayers in particular--sole proprietors and licensed and non-licensed professionals. Online business owners, freelancers, agents, doctors, architects, teachers, etc can benefit from watching this video. More on Income tax in the next video. Dealing with personal finances, especially since it’s not taught in school can be quite hard and confusing. I hope this video and this channel will help you out in the challenges we are facing right now with personal finance, entrepreneurship and adulting in general. ►Outline : Introduction : 0:00 Start of Video : 0:16 Business Types : 1:05 How Taxes Work: 2:41 Why File for Taxes: 3:15 BIR 2303 : 6:31 Tax type: Registration Fee : 7:04 Tax type: Withholding Tax : 7:17 Tax type: Business Tax : 8:21 Tax type: Income Tax : 10:01 Graduated Tax Table (TRAIN Law) : 13:04 Final Thoughts : 14:43 Outro : 15:58 ►Sources/Links Check out Taxumo now: https://txmo.co/ready2adult 10% Discount Code: ready2adultph TRAIN LAW ► https://www.bir.gov.ph/images/bir_files/internal_communications_1/TRAIN%20matters/RA-10963-RRD.pdf HOW TO FILE ITR ► https://www.moneymax.ph/personal-finance/articles/income-tax-return#What_is_Income_Tax_Return TAX FILING ► https://www.taxumo.com/tax-filing-philippines/ VAT ► https://www.bir.gov.ph/index.php/tax-information/value-added-tax.html Income Tax ► https://www.bir.gov.ph/index.php/tax-information/income-tax.html Itemized vs OSD ► https://efps.bir.gov.ph/efps-war/EFPSWeb_war/help/help1701_v2.html How to avail of 8% income tax rate option ► https://www2.deloitte.com/content/dam/Deloitte/ph/Documents/tax/ph-tax-in-a-dot-june2018.pdf ► Previous Videos : 7 TYPES OF INCOME + TAXES ► ► ► https://youtu.be/0fDQ_S-2vbU