HOW TO FILE ITR for Freelancers, Content Creators, Small or Online Business | Philippine Tax 101

[@CharmdeLeon]

Check out Taxumo now: txmo.co/ready2adult 10% Discount Code: ready2adultph The CREATE Law turned 3% of Business Tax to 1%. (Announcement came after I posted this video) Note Corrections: 7:35 Graduated IT Rate Should be 400k = 30k + 90k*25% = 22.5k Income Tax should be P52,500 instead of P50,000 13:27 Scenario 5: Should be 400k = 30k + 40k*25% = 10k Income Tax should be P40,000 instead of P38,000 Sorry! ✌🏻

[@FilipinaRaquelTV]

Noted po thanks.

[@TheresaChua14]

This is helpful, thanks! I think Gross Sales and Gross Income should be clarified; they are not the same. Gross Sales - Cost = Gross Income. Gross Income - Operating Expenses = Net Income.

[@KayNavarro]

Perfect explanation!

[@preciousannecantaros]

Hello po. I really appreciate the way you explain things about taxation. I honestly understood you more easily than my college instructors. Direct to the point ka po magturo. I believe you'd make a good tax instructor. God bless po! I'd also like to sincerely share this one to everyone who reads this: They replied, “Believe in the Lord Jesus, and you will be saved-you and your household.” -Acts 16:31

[@jpgonzalez2569]

I just want you to know that you are an angel for making all these videos. You are helping our generation in many ways and we truly appreciate it. Keep it up!!

[@CharmdeLeon]

Awwee thank you po

[@alyssahabaluyas7259]

Thank you Ms. Charm for making a video on taxes! I realized that I have been doing it wrong since I started freelancing, my taxes were huge! I filed for quarterly taxes today and applied what you discussed, I have so much leftover money from it, I save a lot! More power and more informative videos!!

[@CharmdeLeon]

Oh wow! you’re very much welcome 😱😱😱

[@guptaflavio5383]

If already paid, will you be able to get the excess back?

[@leerashidbase3404]

Why school did not teach things like these??????

[@methamor5351]

because of love

[@messedupguy9648]

TRUE! We should have courses/subjects about taxation and bookkeeping!

[@LAMODÉLISTE]

I think they did Pero sa mga college of business and accounting lang. Sad noh? Dapat kasama to sa curriculum lahat nang college

[@sicknostalgia9934]

Kurakot things

[@SonnyLabaynaOnFIRE]

To keep us financially illiterate, poor and slave away as employees. 😅

[@michailadelacruz4396]

Hi Ms. Charms! I think the computation for the graduated tax rate should be... 30k for the first 400,000 22,500 for 90k in excess of 400k x 25% Total is 52,500 for the INCOME TAX Income tax and business tax are separate. Also, the 3% percentage tax is now 1% in the CREATE Law. If Sales exceed 3M for a year, the business tax is subject to VAT as a requirement. Hope this helps.

[@omsim9954]

Hi, if for example I have a part time job and since it's parttime, the money I earn is less than the minimum wage, do I need to file for an ITR or that would make me exempted automatically?

[@michailadelacruz4396]

@@omsim9954 Annual income of 250,000 pesos and below is exempted po. So kung dyan po and part-time nyo na kita, exempted po, no need to file ITR. Note: if not employed po ito

[@omsim9954]

@@michailadelacruz4396 thanks po

[@FilipinaRaquelTV]

Wow very informative about How to File ITR, especially me I just started now for my channel and to file my ITR as I am being required now for more documents to get Tax Treaty. I wonder if you can have a video of how to submit once we are already done paying and processing our ITR here in the Philippines to Google AdSense for our Tax Treaty. Thank you so much and will watch this so I can understand more about the figures of how to Calculate and how to process the ITR for me being an Online Content Creator here on KZbin. God bless and connect now to your channel Miss Charm.

[@нєяяувѕѕм-з6л]

Thank you for sponsoring Taxumo! :)) Very helpful.

[@r1c0r1c0]

haven't got to watch your video yet but google led me to your discount code :). it still works. thanks

[@babyjhudiel18]

Thank you! This is really helpful.

[@darylldonbuo5574]

you need to clarify that not all foreigners earning income in Philippines are required to file their tax returns. they pay their taxes via the withholding tax system wherein their customers will be the one who will withhold and pay their taxes on behalf of these foreigners. who are these foreigners? those who have been in the Phils for a special project or a one-off project in a given year (lless than 180 days). also, in respect of the tax computation under itemized deduction, the tax due should be 52.5k not 50k(90k excess x 25% + 30k). same is also true in Scenario 5, taxable income should be subject to 25% + 30k, hence, tax due should be 40k and not 38k. Minor comments though but we need to be careful in presenting tax computations to the public. nevertheless, good presentation! :)

[@queenoren6287]

Hello, thank you for a a very informative and easy to understand explanation. I just have a question on the first example on "Graduated IT rate". I think the tax due must be PHP 52,500 (=30,000 + (0.25*90000)), instead of PHP 50,000. Please let me know if I computed it incorrectly. Just to make sure I understood it right. thanks much more power to you!

[@jennymaegarguena1259]

CORRECT

[@raizerjoell.ratunilcpa3518]

Very informative. Thanks for creating this vid. ;) Just a little update, percentage tax is now 1% under CREATE. ;) You are doing good. More power.

[@CharmdeLeon]

Yes! 👆🏻 I made this video right before I saw the news about CREATE 😅

[@JoshuaPerez0001]

This video is surprisingly good. Very clear with the information provided.

[@jhade7639]

Can you do a video about explaining and giving examples about how to read candle lights on graph, yung samples po ng tools .. and kung ano po yung magandang gamitin. I am trying po yung expert option pero hindi kopo maintindihan masyado.. even yung sa tools pano magamit. Terminologies. Sana po mapansin moto . Gusto kopo kasing mag try.. gusto ko din po syang mas maintindihan.

[@CharmdeLeon]

I explained candle sticks here : kzbin.info/www/bejne/jaCpZKqMo8SmnNE Just note that Expert Option is Options trading and not stock trading, it’s more risky and not really ideal for new investors. I also have more videos about stock investing in my channel.

[@jhade7639]

@@CharmdeLeon thank youuuuu... Will watch po.. pati po yung vlog mo na nag explain ka about blue chip Companies.. salamat pooo please keep on uploading po. If ever po about currency din sana

[@josemichael1998]

Salamat sa video Charm. Mas dali ra kaayo sabton ang topic kay sa laing videos.

[@amelitabaguhin1414]

Thank you for the detailed explanation! My questions have been cleared up!!

[@SuannDelosSantos]

Thank you po for sharing.

[@seanrexzellelandicho7552]

Thank you for this, Charm!

[@cindynarvasa]

Very helpful, please make an updated video for this. Thank you

[@julliansibi]

I love how much info I can get from this, Charm! Small comment lang: maybe you can format the way you show the sample computations or a similar thing by creating a template where the whole computation can be seen (some parts are covered by the footage of you). :D

[@CharmdeLeon]

Thanks, Jul! Haha (To clarify) Only 1 part is covered and it was a repeated information lang of no business tax for 8% 😊

[@user-xl2eq5fj1w]

This is an excellent video, no kuskos balungos :)

[@globee1235]

Thank you for this video.. Big help for a new business owner like me. Would like to ask, do you also have a video on how to work on Books of Accounts for VAT? If we do use Taxumo, we still need to work on those books and accomplish it as required by BIR.

[@aaronvienblanco9007]

ang galing ng video mo ate., very helpful. salamat po ng marami! 👍

[@user-ry4oi6gh9o]

Thank you Charm!!

[@What-videos-to-watch-today]

Very informative! Question lang po. In scenario 3, the 180k tax that needs to be paid on or before April 15, required po ba that it be paid in full or pwede half bale 90k on or before April 15 and then the other half in June or July? Thanks po.

[@carorenat.8015]

Video Request: Ano po opinion niyo about GInvestment

[@CharmdeLeon]

Will make a video on this soon!

[@UberlyBia]

Thank you so much for this video! :)

[@CharmdeLeon]

Welcome! 😊🤗

[@hurryclark9925]

This was very informative content , on top of that i really appreciate every single explanation she did cause it was very clear to understand all the language she used ,even Im not really good in terms of english 😅

[@vashtirebong1751]

Super helpful! Salamat po!

[@greywolf4784]

very informative content. thanks a lot.😊

[@kharlrivera]

Thank so much for this video. while evaluating if I should go for 8% flat rate or Graduated IT rate, my bookkeeper told me that from 3% binababa daw ng 1% ang percetange tax?

[@CharmdeLeon]

As far as I know it’s still 3%, you can check out the table on BIRs website: www.bir.gov.ph/index.php/tax-information/percentage-tax.html You can look up the CREATE law if you’re covered with the 1% percentage tax.

[@mackynyxz]

paspasa sa subs imo channel oi. hehehehe. keep up the good job! na confident na jud ka mo make og youtube video ba heheh

[@CharmdeLeon]

Thanks, Mackyyy

[@net_ishee]

Hi! Can you do a video on how to claim tax treaty benefits as a content creator?

[@GhostedStories]

This is very helpful! Thanks!

[@CharmdeLeon]

Thank you

[@juliepearldavid6019]

Great and informative video, I like her contents, tho' she talks too fast I have to rewind most parts just so I can keep up particularly the computation part.

[@jayveelouise]

Do you guys have any idea how I should file my ITR since I have a double job with two different companies? Thank you

[@samantha-slp]

Aaaah. Again, you're the best.

[@Guez8090]

Ano po ang pwdeng ilagay sa other income? at meron po bang attachment needed if may other income? Thank you

[@normanilac5355]

It should be 25% surcharge and 12% interest per annum...20% is from NIRC, and it changed by TRAIN LAW to 12% na hehe

[@kimberlyserrano894]

When filing for an ITR for self employed po do they require payslips? Or proof of your income?

[@lifeandcraftschannel]

Good day po! Nagstart po ako ng online business as a sole proprietor nong Feb.2024. Nakakuha po ako ng COR sa BIR ng April 3 lang. Saan po ako magbase para sa ITR ko sa February po or sa April at need ko narin po ba magfile ng ITR ko every quarter this year?Sana masagot po Ma'am. Thank you and Godbless po!

[@HanaSeikai]

Hi po. Di ko po gets ung scenario 4.. hindi ba ito ung compensation, 8% din if option 1 ung gagamitin sa train law? Pag 8% din ung dun sa business income and no percentage tax to compute na.

[@vanessafaithabordo2442]

Hi. Saan po kaya na category ma.fall yung traders na hindi sa pse? Yung global stocks, forex, crypto, etc.

[@dionesiagalocgoc5314]

Hello Ma'am, thanks for the information but I'm in a little confused..my tax payer type is Mixed income earner; compensation income earner and single proprietor. It's the company who filed my tax that's why i have 2316. What i did last year was, i only file a tax for my business. I never mind the compensation i have since the company doing it for me.. my question is, tama ba yong ginawa ko? At wala na ba akong dapit Ilagay na galing sa sahod ko doon sa filling ko para sa business tax ko? Kac ang ginawa ko, wala na akong ibang nilagay, hindi ko na pinakialaman ang tax ko sa sahod.. focus lang ako sa business tax ko..

[@kaliumtelluri6763]

THANK YOUUUU!

[@KentarouML]

Good day. Hope you'll notice this. I'm a employee and also a small youtuber. Question lang po what if I'm earning annual at work ng 200k and KZbinr 80k what should I do kasama ba ako sa tax? I really don't know what to do please help. Is there a way to contact you ma'am I'm overthinking since then cause I haven't submitted any forms yet.

[@fellawin9628]

Nalito po ako sa Mix Income, does that mean meron another tax for compensation if mag business ka maliban doon sa finafile na ng hr so parang doble po ung compensation tax + business tax = 3x po tama po ba?

[@josiereyes8345]

Ask q ln Yun sa gross income,ano b Yun?Yun b Yun benta o tubo(pinakaKITA) TY

[@Faith-px8zy]

do you have video about process in paying the tax?😊

[@lavie287]

Hi maam! This is out of topic but if you have any idea regarding the reciepts from suppliers do i need to keep all of it and will I hand it over to the bir ?

[@johnrobertginez]

Hi! If I file at taxumo, will I be able to get my ITR copy immediately?

[@aspiringcreator-xy1dr]

hi i hope u will see this but i would like to ask: 1. if aspiring filipino youtube content creators should register their business already even if not yet monetized? 2. also if a yt cc should register business name at dti if the name used for the channel is not the official gov't name? 3. is it better to register both early or wait until monetized? 4. if a yt cc is not yet monetized but registered, you don't need to file taxes since it is not yet earning right? a response would be highly appreciated from you or anyone reading this!!!

[@omsim9954]

Hi, if for example I have a regular job that files my tax and I got a part time job and since it's part time, the money I earn there is less than the minimum wage, do I need to file for an ITR or that would make me exempted automatically?

[@richellepadilla479]

Up!

[@kathleenferrer9874]

hi po did you get an answer for this po?

[@seanvideoediting]

Im confused in 7:07 Why did you subtracrted 250k from the Earnings of 500k? Where did the 250k deduction came from

[@businessmrpankeyk105]

Hi Ma'm Charm! Considered po ba na Zero VAT Rated ang mga KZbinrs na registered as VAT? 1 year na po kasi kami nag babayad ng VAT then may nag sabi na CPA na Hindi kami dapat nagbabayad ng VAT kasi foreign source and income. Thank you! God Bless!

[@boyetdelapena5506]

Hello po.Need po ng information regarding filling of income tax being a freelancers.

[@nylivehc9008]

Question related sa taxation sa mga online business like job portals ie. Indeed, jobstreet, etc. Does one have to pay tax if there is no income?

[@Kevin-vt9oj]

ito po ba yung mga taxes na binabayadan natin sa purchases? and mababalik ba sa atin yon ng BIR through ITR?

[@mdb392]

thanks for this!!!!!

[@CharmdeLeon]

❤️❤️❤️

[@elle5785]

nice information !

[@dota2guide568]

Hello po! I worked before for a BPO company so registered na ako sa BIR, but right now I am employed full-time pero US-based si company, I want to start filing ITR and paying taxes pero di ko po alam pano mag proceed from here, pwede po bang kay Taxumo agad? or need pang may gawin/process sa BIR?

[@CharmdeLeon]

You can register with the BIR as a professional. You’ll get a BIR 2303 and then from there pwede kana mag Taxumo. But if you’re in Metro Manila, May services si Taxumo para jan. You can try asking them for help

[@sherylannyu6435]

@@CharmdeLeon mam, same kame ni dota 2 guide. Previously with BPO and registered sa BIR and now working for a US based company w/ no ph office. What if hindi ke taxumo mgfile at thru BIR online lang. Anu po form nid ifillout first para mgregister as professional? 1901 or 1902 po ba? Nalilito po ako sa descriptions ng form kung san category. Just came across your video and sana mapansin nyo po comment ko. Thank you!

[@raphaelanimetv1905]

hello.. how about part time job do they need to pay taxes on there own? and what if they were not able to pay taxes for 2 years because they are a part time job only were they get penalty?... I hope I need clarifications thanks

[@brotherist]

Hello charm, hindi ako na kapag file ng ITR last year. What should I do?

[@CamT97]

Hello! Great videos, so can content creators and youtubers just file under the flat 8% IT rate? Your reply will be greatly appreciated. Thank you

[@CharmdeLeon]

Yes! You will need to indicate this at the beginning of the year

[@CamT97]

@@CharmdeLeon thank you 🙏

[@susanbalote]

Good morning.. Ms. Charm! Isa po akong ofw na may business sa pinas Ano pong kailangan ko I file sa Bir? Sana po ma pansin nyo concern ko. Salamat🙏

[@vincecaseyvillaflor5499]

Hello! May I ask if how can I process that.. My guardian works abroad po eh

[@FisherMangyanTV]

How about, i am reg employee for different job, then i have PTR for diff profession for the same employer? Thank u

[@theline-up1863]

Hi. How about tulad ko na global stock trader, anung form pi fillup-an ko? and can you make a video specially for this? TIA

[@nostalgic_soul4202]

How to stop filing for itr? I used to be an ESL Teacher hindi kami employee more on free lancer. Now, wala na ako sa company 3 months lng ata ako. What to do next?

[@wengthoughts]

Mam, Paano po pag nakakuha na ng COR tpos di pa po nagkaka income? VA po kc ako and nag aapply pa lang ako ng work.

[@seanvideoediting]

What counts as Business Expense? If Im a freelancer Video editor and I bought a laptop for video editing, does that count as business expense?

[@amielle2]

Hello, sana po may makatulong. Pano po ung para saming mga delivery rider, I think pasok kami sa freelance category. Gusto ko sana mag apply ng housing loan sa pag ibig kaso hinihingian ako ng ITR. Di ko alam pano makakuha and ano gagawin. Ang last ITR ko kasi is nung employed pa ko. Need lang daw kasi nila ng proof of income, kaso wala din ako kahit coe with compensation. Salamat po. Sana may makasagot.

[@reysebastian3924]

Paano po yong expenses like pagtayo ng tindahan pwede po bang i spread out at hanggang kailan?Thanks

[@lalim5962]

Since you mentioned that i have to inform them at the start of the year if ill be choosing 8% or graduated, which of these do i choose since i need to file the 1701Q this 3rd quarter? Do i select graduated? My business was registered mid-year last July 2021.

[@lalim5962]

Hi. How do I know if my income tax is 8% or graduated? In my COR, it only states under "Tax Activities" the following: income tax, registration fee, and percentage tax - quarterly? If I earn below 250k, do I still need to pay income tax and percentage tax? hoping for your response

[@CharmdeLeon]

You'd have to inform them at the start of the tax year if you're going for 8% or graduated. No need to pay but you need to file

[@lalim5962]

@@CharmdeLeon if my income tax is zero, do i still need to file quarterly or annually?

[@ArthurCorod]

gud am maam, online freelancer po ako, tanong ko lang panu po, kung pera pinadala o bayad sa service n ginawa ko ay pinadala sa paypal? yung client is foreign and how about local, nakaregister n po ako as individual registration as online freelance artist, kasi papel parin yung resibo, panu yung declaration nun?

[@DaedalusPH]

Good day ma'am. I would like to ask lang po. How about po yung remote employee ka abroad and residing kapo dito sa Philippines. Which country po ang magfifile nung tax po. At maiiwasan po ba yung double tax deductions po.

[@CharmdeLeon]

if you live in the Philippines, you need to pay taxes here. Usually employers abroad take withholding tax to remit there and you pay for business tax and income tax here. All proper taxes/not "double taxed"

[@DaedalusPH]

@@CharmdeLeon thank you po sa pagsagot. In summary, taxes abroad po ay kinakaltas na nung employer palang po and yung responsibility ko po is yung income tax here in Philippines...

[@CharmdeLeon]

@@DaedalusPH yes ☺️

[@princessdivinealejandro8388]

@Ready2Adult PH paano po kapag yung work po e base lang po sa dami ng gawa kapag marmaing gawa maatas po ang sahod? freelancer lang po remote job po. Magbabayad pa po ba ng tax?

[@viyellen]

What if you’re earning in global markets - stocks, ETFs, cryptos, indices, currencies, and commodity?

[@CharmdeLeon]

You can declare the profits and it will be taxed according to the tax code: capital gains/dividends.

[@edgardomalonzo6447]

Hi, if your earning thru global markets but you are using spreadbetting broker account? Ive seen a video saying that spreadbetting is taxfree but i dont know if it is the same with philippine tax laws.

[@caryljoycewaffer8896]

Question po, if nakapag file nang ITR or form 1701A through eBIR at d naman lumagpas nang P250k ang kita ko. Do I still need to go to BIR and have the form stamped/received? Or no need na? Thank you po. 😍

[@topsilog2236]

Hi im about to embark in the freelancing world and I would like to have more info about the tax process as a freelancer..thank you.

[@cjnoble]

Based on the table, and IT ay 50K, saan galing ung 50K?

[@ailalia]

pls talk about those who are company employed full time worker and freelancers. What should we file? how do we file? what are the pros and cons ? i totally have 0 knowledge 😭

[@adrielanonymous]

You need to file an itr for your freelancing too. Cos ur employer wont cover that part. Take the mixed earner bir form 1701

[@sheenismhaellim2215]

can we switch between flatrate and graduted table every month/quarter filings?

[@markaaroneugenio4036]

Question po, is CoR equivalent to Business Permit? Thanks sa sasagot.

[@Beautifulakira8]

I havent declared 8% rate at the beginning during my registration of certificate, can i still us OPTIONAL STANDARD DEDUCTION? ANYONE??? Thank you.

[@aikoochiai]

hi for freelancer choose the 8% tax, do we file it annually or still quarterly? I just notice it sums up annual gross right?

[@CharmdeLeon]

Still quarterly ☺️

[@pameladelapena8889]

What if d nkpgfile ng itr.. New lng po ksi ako nag aasikso ng welding shop nmin 😢 2021 lng po kmi ng start 2551q lng nbbyrn ko quarterly

[@ravenandrewricamora8698]

I have that book behind you Tony Robbins

[@34eigger]

Mam panu kumuha ng ITR ang self employed na di naman taxable ang income

[@brunosgaming1444]

2024 online sellers shopee lazada tiktok shop in here? 🤭 👇🏻

[@villanelle1896]

Hello, Is Rental Income Creditable Withholding tax and Other CWT included in the computation? If so, do I have to add it or minus it?

[@CharmdeLeon]

Minus it. It’s the same function as the withholding tax.

[@mariaimperial9026]

hi po , saan nyo ba kinuha yung 250,000 sa mga sample computations nyo?

[@expired613]

if a business started feb2021 kelan po ang tax payment due nya for the first quarter? Is it the following year pa po?

[@CharmdeLeon]

May 2021. August 2021. November 2021. April 2022

[@jennifersayson5933]

Hi, thank u for this. Do you have any idea how to file 1701Q/1701A if the business is exempted in paying income tax? Business is BMBE, so exempted po sa income tax payment.

[@aileenlenardomasig3067]

hello, i just registered my business this january, when should we file for tax?

[@edzsocorro1325]

How about seafarers? Is it exempted also?

[@bethzaidagarcia486]

So helpful. How about if filling for multiple business under 1 name? 😊TIA