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    Date: 2022-08-19 00:00:37.291618

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    Date: 2022-08-22 11:40:31.967298

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Train Law

Requested from BIR by R. Guballa at 12:00 AM on Aug 19, 2022.
Purpose: Filing of tax
Date of Coverage: 08/17/2022 - 08/18/2022
Tracking no: #BIR-189207152333

Guballa 12:00 AM, Aug 19, 2022 

I am employed (full time) and also a financial advisor (part time).

Magkano po ang tax rate ko based on the new income tax for self employed and professionals under RA10963? 8% na lang po ba for both of my jobs if ang annual income ko po ay >250k and <3M?

Thank you.

Du 11:40 AM, Aug 22, 2022 

August 22, 2022

Dear Ralph Marlon Guballa:

Greetings!

Thank you for your request dated Aug 19, 2022 12:00:37 AM under Executive Order No. 2 (s. 2016) on Freedom of Information in the Executive Branch.

Your Request

You asked for Train Law.

Response to Request

In reply, we refer you to Section 3(D) of Revenue Regulations No.  8-2018 in the BIR Website at www.bir.gov.ph homepage/revenue issuances links.

Moreover,  if gross sales/receipts and other non-operating income from business or practice of profession do not exceed the VAT, the individual has the option to be taxed at:
a.	Graduated income tax rates (page 4 of BIR Form 1701) (Illustration 7.b)
b.	Eight percent (8%) income tax rate based on gross sales/receipts and other non-operating income in lieu of the graduated income tax rates and percentage tax. (Illustration 7.a)

You may opt to give us a call at this number 8538-3200 or for further inquiries, you may proceed/consult Revenue District Office (RDO) No. 38-North Quezon City. They have a regular tax briefing every thursday at 2:00 P.M to 3:30 P.M.

Thank you.

Respectfully,

FOI Receiving Officer
Public Information and Education Division

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