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NARAG LAW OFFICE

NARAG LAW OFFICE

Dasmarinas, Philippines

Founded in 2015
12 people in their team
You've Come To The Right PlaceOur Managing Attorney, Atty. Narag (a CPA), started this firm in January 2015 after working in the corporate world for more than 20 years (SGV&Co., PriceWaterhouse Coopers,.AIG/AIA, etc). He has so far positively used his extensive experience as a...
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Philippines Tax Legal Questions answered by Lawyers

Browse our 3 legal questions about Tax in Philippines and the lawyer answers, or ask your own questions for free.

The BİR put declared purchase as net sales since there are no sales invoices of purchase. If the seller does not want to issue any copies of sales invoices, can the successful online bank transfer to sellers account signed and verified by the bank be used
Tax
Yes, a successful online bank transfer to the seller's account that is signed and verified by the bank can often be used as supporting evidence to demonstrate that a purchase was made. However, whether this is acceptable depends on the jurisdiction's tax laws and regulations. Below are key points to consider:1. Legal AcceptabilityIn many jurisdictions, tax authorities require proper sales invoices as primary proof of transactions for tax reporting purposes.If the seller refuses to issue sales invoices, you may need to report this to the relevant tax authority as non-compliance with invoicing regulations.2. Supporting DocumentationIf the sales invoice is unavailable, the following documents may strengthen your case:Bank Statement or Transfer Receipt: A signed and verified bank document showing the transaction details, including the amount, date, and recipient’s account information.Purchase Agreement or Order Confirmation: If available, include any agreements, contracts, or email correspondence detailing the purchase.Delivery Records: If applicable, records or receipts for the delivery of goods or services.3. Communication with the SellerAttempt to communicate with the seller to resolve the issue and request an official sales invoice.If they continue to refuse, document these attempts as evidence.4. Consult Tax ProfessionalsIt’s essential to consult a tax advisor or legal expert familiar with the requirements in your jurisdiction. They can guide you on how to present the evidence and address potential issues with the tax authority.While a verified bank transfer may be persuasive, it may not replace a sales invoice in all situations. The best course of action is to gather as much corroborating documentation as possible and seek professional advice.
Is it allowed to change from tax declaration to titled? Can I buy a right of way at least 4 meters wide ?
Commercial Real Estate
Real Estate
Real Estate Contracts and Negotiations
Real Estate Due Diligence
Tax
This type of transaction is what we do every day - Estate Settlement, Right of Way, and Lot Acquisition/Registration. Please call us at directly
are BIR mission orders authorized to assess tax deficiency?
Tax
I suggest that you call us at 09189395137 - Atty Mario P Narag Jr 

About Tax Law in Dasmarinas, Philippines:

Dasmarinas, Philippines follows the tax laws and regulations set by the Bureau of Internal Revenue (BIR), the main government agency responsible for tax administration in the country. Tax law in Dasmarinas covers various types of taxes, including income tax, value-added tax (VAT), withholding tax, and local business taxes. Understanding these laws is crucial for individuals and businesses to fulfill their tax obligations and avoid legal issues.

Why You May Need a Lawyer:

There are several situations where you may need a lawyer specializing in tax law in Dasmarinas, Philippines:

  • If you are facing tax evasion charges or accusations
  • If you want to ensure compliance with complex tax laws and regulations
  • If you need assistance in managing and filing taxes for your business
  • If you are involved in a tax-related dispute or audit
  • If you need guidance in understanding tax deductions, exemptions, or incentives

Local Laws Overview:

Key aspects of local tax laws in Dasmarinas, Philippines:

  • Income Tax: Individuals and businesses are required to file an annual income tax return based on their taxable income.
  • Value-Added Tax (VAT): Businesses that reach a certain annual gross sales threshold must register for VAT and collect this tax from their customers.
  • Withholding Tax: Individuals and companies making certain payments, such as salaries, interest, or rent, may need to deduct and remit withholding tax to the BIR.
  • Local Business Taxes: Local government units may impose additional taxes on businesses operating within their jurisdictions.

Frequently Asked Questions:

1. Do I need to pay income tax if I'm an employee?

Yes, as an employee in Dasmarinas, Philippines, you are required to pay income tax based on your salary. Your employer should deduct the tax from your salary through the withholding tax system.

2. How can I register for Value-Added Tax (VAT) as a business owner?

You need to register your business for VAT with the BIR if your annual gross sales or receipts reach or exceed the threshold set by law. You can accomplish this by filling out the appropriate BIR forms and submitting them to the nearest BIR office.

3. What should I do if I receive a tax audit notice?

If you receive a tax audit notice, it is crucial to consult a tax lawyer as soon as possible. They will guide you through the audit process, help you gather the necessary documents, and represent your interests in dealings with the BIR.

4. Are there any tax incentives or exemptions I should be aware of?

Yes, there are various tax incentives and exemptions available to certain individuals and businesses in Dasmarinas, Philippines. These may include incentives for registered enterprises in special economic zones or tax exemptions for specific industries. Consulting a tax lawyer can help you understand if your business qualifies for any of these incentives.

5. How can I dispute a tax assessment?

If you disagree with a tax assessment from the BIR, you can file an appeal within a specified period. It is advisable to seek legal advice from a tax lawyer who can guide you through the appeal process and present your case effectively.

Additional Resources:

For further information and assistance, you may refer to the following resources:

  • Bureau of Internal Revenue (BIR) - Official website: https://www.bir.gov.ph
  • Department of Finance - Official website: https://www.dof.gov.ph
  • Local Dasmarinas City Government - For specific local tax requirements and regulations

Next Steps:

If you require legal assistance or advice regarding tax matters in Dasmarinas, Philippines, it is recommended to consult a qualified tax lawyer. They will assess your situation, provide personalized guidance, and ensure your compliance with tax laws to avoid any legal consequences.

Disclaimer:
The information provided on this page is intended for informational purposes only and should not be construed as legal advice. While we strive to present accurate and up-to-date information, we cannot guarantee the accuracy, completeness, or currentness of the content. Laws and regulations can change frequently, and interpretations of the law can vary. Therefore, you should consult with qualified legal professionals for specific advice tailored to your situation. We disclaim all liability for actions you take or fail to take based on any content on this page. If you find any information to be incorrect or outdated, please contact us, and we will make efforts to rectify it.