DOF and SEC Sign a Data sharing Agreement

Department of Finance and Securities and Exchange Commission Sign Data Sharing Agreement 

The Department of Finance (DOF) and the Securities and Exchange Commission (SEC) signed a memorandum of agreement (MOA) last 17 November 2014, allowing both parties to institutionalize data sharing and information exchange. As part of this undertaking, the SEC will share electronic copies of all basic company information and financial data contained in the General Information Sheets (GIS), as well as all financial data contained in the General Form for Financial Statements (GFFS), the Special Form for Financial Statements (SFFS), and the Audited Financial Statements (AFS).

The DOF intends to utilize available data for its internal use in order to enhance policy formulation, research, risk analysis and audit profiling of businesses. Before signing the agreement, Finance Secretary Cesar Purisima said, “We fully believe in using every tool and resource available in this digital age to enhance our government’s capacity to serve the Filipino people. Instant access to and effective management of information is critical to DOF’s mission to enable the country to stand on a stronger fiscal position, if only to use these resources to empower the least in our society to stand on their own as well.”

Effective starting this month, the agreement is expected to boost DOF knowledge management capacity, using data and information already available to the SEC for more responsive and effective policy development. The agreement also called for the procurement of a data processing service provider, as well as the copying and consolidation of up to 70,000 electronic submissions in 60 working days. SEC Chairperson Teresita Herbosa said, “We are delighted that information available to SEC can support the Department of Finance in carrying out their mandates and our shared responsibility to build a stronger, more resilient economy under a good governance framework.”

The SEC has jurisdiction and supervision over all corporations, partnerships, or associations which are the grantees of primary franchises, licenses, or permits issued by the Philippine Government. SEC is the repository of general registration information, of audited financial statements (AFS), other periodic and/or event-driven reports and disclosures required under the SRC, CCP, and other SEC-administered laws and regulations, such as general information sheets (GIS), and the general form for financial statements (GFFS)/special form for financial statements (SFFS). 

This joint undertaking of the SEC and DOF is supported by the USAID-funded project Facilitating Public Investment (FPI). FPI is working to facilitate the expansion of the “fiscal space” for public and private investment in the Philippines through higher tax revenue and public expenditure reforms. The SEC is under the administrative supervision of the DOF under Executive Order (EO) No. 37 dated 19 April 2011.

http://www.dof.gov.ph/?p=11291

Department of Finance (DOF) will have electronic copies of all basic company information and financial data.  It will be easier for Department of Finance (DOF) to analyze the data and see any discrepancies in SEC data compared to other agencies.  

Example no.1 General Information Sheets (GIS) is a document with a list of major stockholders of the corporation.  It will also show the amount of shares of stock a stockholder invested  in a corporation.  

If a stockholder invested in multiple corporations, he  or she should have proper documentation of all sources of his or her income.

RR 6-2013 Rules on the Taxation of Sale, Barter, Exchange or Other Disposition of Shares of Stock Held as Capital Assets

RR 6-2013 Sale of Stock as Capital Asset

Definition of "fair market value" of the Shares of Stock. — For purposes of this Section, "fair market value" of the shares of stock sold shall be:

In the case of shares of stock not listed and traded in the local stock exchanges, the value of the shares of stock at the time of sale shall be the fair market value.

 In determining the value of the shares,

Before RR 6-2013, We don't have to appraise the property of the corporation before we sell the shares of stock.

 the appraised value of real property at the time of sale shall be the higher of –

 (1) The fair market value as determined by the Commissioner, or
 (2) The fair market value as shown in the schedule of valued fixed by the Provincial and City Assessors, or
 (3) The fair market value as determined by Independent Appraiser.

Two things Corporations should understand why BIR issued RR 6-2013

1.  If your Corporation  has an old building, using the fair market value of the old building as the basis of the tax on the sale of shares of stock - The tax may not be that big.

2.  If your Corporation has a land that is located in a prime location, the fair market value of the land will increase annually.  Having a high fair market value of the land as the basis of the tax on sale of shares of stock - The tax on the sale of shares of stock  is bigger compared to sale of shares of stock before the RR 6-2013
 
RR 6-2013 Rules on the  Taxation of Sale, Barter, Exchange or Other Disposition of Shares of Stock Held as Capital Assets

Unexplained sources of income BIR RATE program

The Bureau of Internal Revenue (BIR)  filed a criminal complaint with the Department
of Justice against RAYMOND ARROYO BABST (BABST) for

A.  Willful Attempt to Evade or Defeat Tax,and
B.  Deliberate Failure to File Income Tax Returns for taxable years 2009, 2010, and 2011, in
violation of Sections 254 and 255 of the National Internal Revenue Code of 1997, as amended (Tax
Code).

Respondent BABST is registered with the BIR with registered addresses at 22 King Christian
St., Kingspoint Subd., Brgy. Bagbag, Novaliches, Quezon City and No. 140 Libra Street, Cinco
Hermanos Subd., Marikina City.

Based on information and documents gathered during the investigation,
BABST purchased
1.  a Rockwell Condominium worth P2.9 million in 2006 and paid the corresponding Documentary
Stamp Tax (DST) thereon in the amount P54,645.00.
2.   In 2007, he sold the same property for the
same amount and paid the Capital Gains Tax (CGT) thereon amounting to P218,526.00.
3. In 2009,
he purchased a parcel of land and residential house in Marikina City for P3.16 million and paid the
DST thereon in the amount P47,400.00. Despite these acquisitions, he did not declare any income
for the said years.
4..In 2009, BABST started his distributorship agreement with Pepsi Cola Products Philippines,
Inc (Pepsi Cola, Inc).

As certified to by Pepsi Cola Inc., BABST made the following acquisitions
a. amounting to P3.53 million (2009),
b. P20.09 million (2010) and
c.  P17.12 million (2011).
d. In 2010, he
paid various BIR taxes with an aggregate amount of P4,464.85.
e. In 2011, he sold his Vernida
Condominium for P4.8 million and paid the CGT thereon in the amount of P288,000.00.

Using the expenditure method of investigation, investigators determined that BABST
committed substantial underdeclaration of income as he was able to make the aforementioned
purchases despite no record of income from any source. His net income for the past several years
combined was in fact considerably short vis-à-vis his property acquisitions and stocks in trade from
Pepsi Cola.

As a consequence of his acts and omissions, BABST was sued for an aggregate income tax
liability amounting to

 P23.82 million, inclusive of surcharges and interests, broken down into: 2009
– P3.05 million: 2010 – P13.32 million; and 2011 P7.45 million.

The case against RAYMOND ARROYO BABST is the 320th filed under the RATE program of
the BIR under the leadership of Commissioner Kim S. Jacinto-Henares. It is likewise a RATE case
of the National Investigation Division.

Bar Code on the Upper Right Corner of the BIR Income Tax Return

Most people filed their income tax return on 2014 but did not notice or don't know the purpose of a Bar code on the upper right corner of the BIR Income Tax Return.

The goal of BIR is to have a readable tax return.  A scanner will just scan the income tax return and it will automatically get all the information in the income tax return and save all the information in the BIR database

Having an updated database, BIR can just use a Computer Aided Audit Tools (CAATS) to generate audit findings of all taxpayers.

How To Edit 2550m Ebirform

A video on how to edit 2550m Bir ebirform

Mandatory Use of Electronic Bureau of Internal Revenue Forms (eBIRForms)

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REPUBLIC OF THE PHILIPPINES
DEPARTMENT OF FINANCE
BUREAU OF INTERNAL REVENUE
Quezon City
September 5, 2014

REVENUE REGULATIONS NO. 6-2014
SUBJECT
:
Prescribing the Mandatory Use of Electronic Bureau of Internal Revenue Forms (eBIRForms) in Filing of All Tax Returns by Non-Electronic Filing and Payment System (Non-eFPS) Filers Particularly Accredited Tax Agents/Practitioners, Accredited Printers of Principal and Supplementary Receipts/Invoices, and One-Time Transaction (ONETT) Taxpayers
TO
:
All Internal Revenue Officials, Employees and Others Concerned
The eBIRForms was developed to provide taxpayers particularly the non-eFPS filers with accessible and convenient service through easy preparation of tax returns. The use of eBIRForms will improve the BIR's tax return data capture and storage thereby enhancing efficiency and accuracy in the filing of tax returns.

Section 1. SCOPE. Pursuant to the provisions of Section 244 of the National Internal Revenue Code of 1997 (Tax Code) as amended, in relation to Section 27 of Republic Act No. 8792, otherwise known as the “Electronic Commerce Act”, these Regulations are hereby promulgated by making it mandatory for non-eFPS filers or taxpayers to use eBIRForms covering thirty six (36) BIR Forms in the preparation and filing of their returns starting September 01, 2014 relative to existing revenue issuances under RMC No. 61-2012, “Authorizing the Use of eBIRForms Package in Preparation and Filing of Tax Returns” and RMO No. 24-2013, “Prescribing the Guidelines, Policies, and Procedures on the Use of eBIRForms in Relation to RMC No. 61-2012”.
Section 2. DEFINITIONS OF TERMS. For purposes of these Regulations, the terms herein provided are defined as follows:

1. Electronic Bureau of Internal Revenue Forms (eBIRForms) – refers to the two (2) types of electronic services (e-Services) provided by the Bureau relative to the preparation, generation, and submission of tax returns, which are the following:
a. Offline eBIRForms Package; and
b. Online eBIRForms System.

2. eBIRForms Software Package (also known as Offline eBIRForms Package) – is a tax preparation software that allows the taxpayer and Accredited Tax Agent (ATA) to accomplish or fill up tax forms offline. It is an alternative mode of preparing tax returns which deviates from the conventional manual process of filling-up tax returns on pre-printed forms that is highly susceptible to human error. Taxpayers/ATAs can directly encode data, validate, edit, save, delete, view and print the tax returns. The form package has automatic computations and has the capability to validate information inputted by the taxpayers/ATAs.

3. Online eBIRForms System – is a filing infrastructure that accepts tax returns submitted online and automatically computes penalties for tax returns submitted beyond due date. The System creates secured user accounts thru enrollment for use of the online System, and allows ATAs to file on behalf of their clients. The System also has a facility for Tax Software Providers (TSPs) to test and certify the

Page 2 of 4

data generated by their tax preparation software (certification is by form). It is capable of accepting returns data filed using certified TSP’s tax preparation software.

4. Accredited Printers – a duly constituted agents of the BIR in the printing of principal and supplementary receipts/invoices and included in the List of Accredited Printers of Principal and Supplementary Receipts/Invoices published in the BIR website.

5. Accredited Tax Agents (ATAs) - are also known as accredited tax practitioners, who are engaged in tax practice included in the List of Accredited Tax Practitioners as published in the BIR website.

6. Offline – is a technical term generally used when the user’s workstation is not connected to the internet.

7. Online – is the most common technical term used wherein the user connects his workstation to the internet to access various information through the worldwide web.

8. No Payment Returns – refers to the tax return that is not accompanied by any payment where the same is filed with any authorized BIR receiving office (e.g. breakeven, no transaction, refundable or second installment tax return).

Section 3. POLICIES AND GUIDELINES.

1. eBIRForms shall be available to all Non-eFPS filers with or without internet access. Taxpayers with internet access shall download the eBIRForms Package from the BIR website www.bir.gov.ph, while taxpayers without internet shall download the eBIRForms package from the BIR e-lounges.

2. Non-eFPS filers specifically Accredited Tax Agents/Practitioners, Accredited Printers of Principal and Supplementary Receipts/Invoices and One-Time Transaction (ONETT) taxpayers shall mandatorily use the eBIRForms in filing all of their tax returns. They may opt to submit their tax returns manually using the eBIRForms Offline Package at their respective RDOs or electronically through the use of the Online eBIRForms System.

3. The ATAs who are preparing and filing tax returns in behalf of their clients are likewise mandated to use the eBIRForms.

4. Procedures set forth under RMO No. 24-2013 shall be followed and observed.
Section 4. MANDATORY COVERAGE. Only those non-eFPS filers are covered by this Regulations:
1. Accredited Tax Agents/Practitioners and all its client-taxpayers;
2. Accredited Printers of Principal and Supplementary Receipts/Invoices;
3. One-Time Transaction (ONETT) taxpayers;
4. Those who shall file a “No Payment” Return;
5. Government-Owned or -Controlled Corporations (GOCCs);
6. Local Government Units (LGUs), except barangays; and
7. Cooperatives registered with National Electrification Administration (NEA) and Local Water Utilities Administration (LWUA)

Page 3 of 4

Section 5. RETURNS. The eBIRForms is an application covering thirty-six (36) BIR Forms comprised of Income Tax Returns; Excise Tax Forms; VAT Forms; Withholding Tax Forms; Documentary Stamp Tax Forms; Percentage Tax Forms; ONETT Forms and Payment Form, the list of which is shown below:

Form No. Latest Revision Date Form Name
1
0605
July 1999 (ENCS)
Payment Form
2
1600
September 2005 (ENCS)
Monthly Remittance Return of Value-Added Tax and Other Percentage Taxes Withheld
3
1600WP
January 2010 (ENCS)
Remittance Return of Value-Added Tax and Other Percentage Taxes Withheld by Race Track Operators
4
1601-C
July 2008 (ENCS)
Monthly Remittance Return of Income Taxes Withheld on Compensation
5
1601-E
August 2008 (ENCS)
Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded)
6
1601-F
September 2005 (ENCS)
Monthly Remittance Return of Final Income Taxes Withheld
7
1602
August 2001 (ENCS)
Monthly Remittance Return of Final Income Taxes Withheld on Interest Paid on Deposits and Yield on Deposits Substitutes/Trusts/Etc.
8
1603
November 2004 (ENCS)
Quarterly Remittance Return of Final Income Taxes Withheld on Fringe Benefits Paid to Employees Other than Rank and File
9
1604-CF
July 2008 (ENCS)
Annual Information Return of Income Taxes Withheld on Compensation and Final Withholding Taxes
10
1604-E
July 1999 (ENCS)
Annual Information Return of Creditable Income Taxes Withheld (Expanded)/Income Payments Exempt from Withholding Tax
11
1606
July 1999 (ENCS)
Withholding Tax Remittance Return For Onerous Transfer of Real Property Other than Capital Asset (Including Taxable and Exempt)
12
1700
June 2013 (ENCS)
Annual Income Tax Return For Individuals Earning Purely Compensation Income (Including Non-Business/Non-Profession Income)
13
1701
June 2013 (ENCS)
Annual Income Tax Return For Self-Employed Individuals, Estates and Trusts
14
1701Q
July 2008 (ENCS)
Quarterly Income Tax Return For Self-Employed Individuals, Estates and Trusts (Including those w/ both Business and Compensation Income)
15
1702-EX
June 2013
June 2013 (ENCS) Annual Income Tax Return For Use ONLY by Corporation, Partnership and Other Non-Individual Taxpayer EXEMPT Under the Tax Code, as Amended, [Sec. 30 and those exempted in Sec. 27(C)] and Other Special Laws, with NO Other Taxable Income
16
1702-MX
June 2013
Annual Income Tax Return For Corporation, Partnership and Other Non-Individual with MIXED Income Subject to Multiple Income Tax Rates or with Income Subject to SPECIAL/PREFERENTIAL RATE
17
1702-RT
June 2013 (ENCS)
Annual Income Tax Return For Corporation, Partnership and Other Non-Individual Taxpayer Subject Only to REGULAR Income Tax Rate
18
1702Q
July 2008 (ENCS)
Quarterly Income Tax Return For Corporations, Partnerships and Other Non-Individual Taxpayers
19
1704
May 2001
Improperly Accumulated Earnings Tax Return
20
1706
July 1999 (ENCS)
Capital Gains Tax Return For Onerous Transfer of Real Property Classified as Capital Asset (both Taxable and Exempt)
21
1707
July 1999 (ENCS)
Capital Gains Tax Return for Onerous Transfer of Shares of Stock Not Traded Through the Local Stock Exchange
22
1800
July 1999 (ENCS)
Donor's Tax Return
Page 4 of 4
Form No. Latest Revision Date Form Name
23
1801
July 2003 (ENCS)
Estate Tax Return
24
2000
June 2006 (ENCS)
Documentary Stamp Tax Declaration/ Return
25
2000-OT
June 2006 (ENCS)
Documentary Stamp Tax Declaration/ Return (One-Time Transactions)
26
2200A
May 2006 (ENCS)
Excise Tax Return for Alcohol Products
27
2200AN
August 2003 (ENCS)
Excise Tax Return for Automobiles & Non-Essential Goods
28
2200M
September 2005 (ENCS)
Excise Tax Return for Mineral Products
29
2200P
September 2005 (ENCS))
Excise Tax Return for Petroleum Products
30
2200T
May 2006 (ENCS)
Excise Tax Return for Tobacco Products
31
2550M
February 2007 (ENCS)
Monthly Value-Added Tax Declaration
32
2550Q
February 2007 (ENCS)
Quarterly Value-Added Tax Return
33
2551M
September 2005 (ENCS)
Monthly Percentage Tax Return
34
2551Q
February 2002 (ENCS)
Quarterly Percentage Tax Return
35
2552
July 1999 (ENCS)
Percentage Tax Return For Transactions Involving Shares of Stock Listed and Traded Through the Local Stock Exchange or Through Initial and/or Secondary Public Offering
36
2553
July 1999 (ENCS)
Return of Percentage Tax Payable Under Special Laws
Section 6. REPEALING CLAUSE. Any provisions of other revenue issuances inconsistent herewith, including any requirement for the filing of a paper-based return are hereby repealed, modified or amended accordingly.
Section 7. EFFECTIVITY CLAUSE. These Regulations shall take effect on all returns to be filed on September 01, 2014 or after fifteen (15) days following publication in a newspaper of general circulation, whichever comes later.

Mandatory Use of Electronic Bureau of Internal Revenue Forms (eBIRForms)
REVENUE REGULATIONS NO. 6-2014 rr6-2014

How To Fill up BIR Ebirform

A video on how to fill up 2550m ebirform

BIR Revised Compromised Penalty

RMO No. 7-2015 New Penalty by philippinecpa

RMO No. 7-2015 Annex a New Compromise Penalty

BIR Revised  Old Compromised Penalty

REVISED SCHEDULE OF BIR COMPROMISE PENALTY

Simplified 30 Years Saving Plan

There are many ways to use the 3 saving plan scenarios below to analyze the difference of save now, save late and double your savings  but start very late

SAVE NOW  1st - 10th Year

Age  60    4,670,460.65     259%  > SAVE LATE  1,800,664.76

                                          336%  >  SAVE VERY LATE  1,388,468.43 

SAVE LATE  11th - 20th Year

Age  60     1,800,664.76

SAVE VERY LATE  21st - 30th Year

Age 60  1,388,468.43

Even if  you double your annual saving on the 21st - 30th year of your saving plan, your saving fund will still be less than a person who can save early.

Below is the detailed annual  saving plan for the three saving scenarios

SAVE NOW  1st - 10th Year

Age	No. of  yrs	36,000.00	Estimated	Amount 1st- 10th yr  Save + Interest
	saving	Annual saving	Annual Interest	Amount 11th- 31st yr  Amount +                                          Interest
		1st -10th yr	10%
30	1	36,000.00	3,600.00	39,600.00
31	2	75,600.00	7,560.00	83,160.00
32	3	119,160.00	11,916.00	131,076.00
33	4	167,076.00	16,707.60	183,783.60
34	5	219,783.60	21,978.36	241,761.96
35	6	277,761.96	27,776.20	305,538.16
36	7	341,538.16	34,153.82	375,691.97
37	8	411,691.97	41,169.20	452,861.17
38	9	488,861.17	48,886.12	537,747.29
39	10	573,747.29	57,374.73	631,122.01
40	11	631,122.01	63,112.20	694,234.22
41	12	694,234.22	69,423.42	763,657.64
42	13	763,657.64	76,365.76	840,023.40
43	14	840,023.40	84,002.34	924,025.74
44	15	924,025.74	92,402.57	1,016,428.32
45	16	1,016,428.32	101,642.83	1,118,071.15
46	17	1,118,071.15	111,807.11	1,229,878.26
47	18	1,229,878.26	122,987.83	1,352,866.09
48	19	1,352,866.09	135,286.61	1,488,152.70
49	20	1,488,152.70	148,815.27	1,636,967.97
50	21	1,636,967.97	163,696.80	1,800,664.76
51	22	1,800,664.76	180,066.48	1,980,731.24
52	23	1,980,731.24	198,073.12	2,178,804.36
53	24	2,178,804.36	217,880.44	2,396,684.80
54	25	2,396,684.80	239,668.48	2,636,353.28
55	26	2,636,353.28	263,635.33	2,899,988.61
56	27	2,899,988.61	289,998.86	3,189,987.47
57	28	3,189,987.47	318,998.75	3,508,986.21
58	29	3,508,986.21	350,898.62	3,859,884.84
59	30	3,859,884.84	385,988.48	4,245,873.32
60	31	4,245,873.32	424,587.33	4,670,460.65

                                                       SAVE LATE  11th - 20th Year

Age	No. of  yrs	36,000.00	Estimated	Amount 1st- 10th yr  Zero Savings
	saving	Annual saving	Annual Interest	Amount 11st- 20th yr  Savings + Int
		11th -20th yr	10%	Amount 21st- 31st yr  AMount + Int
30	1		-	-
31	2		-	-
32	3		-	-
33	4		-	-
34	5		-	-
35	6		-	-
36	7		-	-
37	8		-	-
38	9		-	-
39	10		-	-
40	11	36,000.00	3,600.00	39,600.00
41	12	75,600.00	7,560.00	83,160.00
42	13	119,160.00	11,916.00	131,076.00
43	14	167,076.00	16,707.60	183,783.60
44	15	219,783.60	21,978.36	241,761.96
45	16	277,761.96	27,776.20	305,538.16
46	17	341,538.16	34,153.82	375,691.97
47	18	411,691.97	41,169.20	452,861.17
48	19	488,861.17	48,886.12	537,747.29
49	20	573,747.29	57,374.73	631,122.01
50	21	631,122.01	63,112.20	694,234.22
51	22	694,234.22	69,423.42	763,657.64
52	23	763,657.64	76,365.76	840,023.40
53	24	840,023.40	84,002.34	924,025.74
54	25	924,025.74	92,402.57	1,016,428.32
55	26	1,016,428.32	101,642.83	1,118,071.15
56	27	1,118,071.15	111,807.11	1,229,878.26
57	28	1,229,878.26	122,987.83	1,352,866.09
58	29	1,352,866.09	135,286.61	1,488,152.70
59	30	1,488,152.70	148,815.27	1,636,967.97
60	31	1,636,967.97	163,696.80	1,800,664.76

                                            SAVE VERY LATE  21st - 30th Year

Age	No. of  yrs	72,000.00	Estimated	Amount 1st- 10th yr  Zero Savings
	saving	Annual Saving	Annual Interest	Amount 11th- 20th yr  Zero Savings
		21st -30th yr	10%	Amount 21st- 30th yr  Double Savings + Int
				Amount 31st  yr  Amount + Int
30	1		-	-
31	2		-	-
32	3		-	-
33	4		-	-
34	5		-	-
35	6		-	-
36	7		-	-
37	8		-	-
38	9		-	-
39	10		-	-
40	11		-	-
41	12		-	-
42	13		-	-
43	14		-	-
44	15		-	-
45	16		-	-
46	17		-	-
47	18		-	-
48	19		-	-
49	20		-	-
50	21	72,000.00	7,200.00	79,200.00
51	22	151,200.00	15,120.00	166,320.00
52	23	238,320.00	23,832.00	262,152.00
53	24	334,152.00	33,415.20	367,567.20
54	25	439,567.20	43,956.72	483,523.92
55	26	555,523.92	55,552.39	611,076.31
56	27	683,076.31	68,307.63	751,383.94
57	28	823,383.94	82,338.39	905,722.34
58	29	977,722.34	97,772.23	1,075,494.57
59	30	1,147,494.57	114,749.46	1,262,244.03
60	31	1,262,244.03	126,224.40	1,388,468.43

Extension to File Affidavit of Self Employed Professionals and Official Appointment Books

Extension to File Affidavit of Self Employed Professionals and Official Appointment Books

Deadline for compliance to submit affidavit and official appointment books is extended from May 6, 2014 to May 31, 2014  BIR RMC 32-2014

To read the Full RR 4-2014 Click here 

AFFIDAVIT of Self Employed Professional Factors in Determining Service Fees RR 4-2014

REPUBLIC OF THE PHILIPPINES         )
____________________                           ) SS.

AFFIDAVIT

I, ______________(Name of Self-Employed Professional), Filipino, of legal age, single/married with office address at ____________________ _____________________________, after having been duly sworn in accordance with law, hereby depose and say:

1.    That I am a __________( Profession )  with TIN #______________, duly registered with the Bureau of Internal Revenue under RDO ___; 

2.    That as a __________( Profession )  , I render professional services to a number of clients, and that my fees range from ___________ to ___________ (ex.P1000.00 – P5,000.00 or 3%-5% of gross selling price );

3.    That, I bill my clients by issuing them, Official Receipt/s that are duly registered with the BIR;

4.    That, the factors I consider in determining the equitable rate of fees charged or to be charged are: the complexity of the work performed or to be performed, the extent of responsibility assumed, the volume of work – number of hours spent or to be spent in doing the work and _________

5.    That this affidavit is hereby executed to attest to the truth of the facts above-stated, and in compliance with the dictates of BIR Revenue Regulations No. 4-2014.

                                                                                                                                           

IN WITNESS WHEREOF, I have hereunto affixed my signature this ___ day of ____________, 2014 at ______City, ___________ Province, Philippines.

                                                                                         

_____________________________

SUBSCRIBED AND SWORN to before this____________ day of ______________, in ____________, affiants exhibiting to me his/her ____________________________Issued at _____________________

Doc.No.

Page No.

Book No.

Series of 2014

Download the Above Affidavit Click Here 

To read the full rr 4-2014 click here

AFFIDAVIT of Self Employed Professional Factors in Determining Service Fees  RR 4-2014