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25 lut 2024 · What will be the tax treatment of interest expenses paid or incurred on intercompany loans. Interest expense cannot be deducted from the gross income if both the taxpayer and the recipient are individuals listed in Section 36(B) of the NIRC of 1997, as amended.
13 sty 2024 · We delve into the specifics of what makes a successful car loan application, discuss the top banks offering these services in the Philippines, and provide practical tips to ensure a smooth ride from application to approval.
19 gru 2023 · Interest expenses may be reduced by 20% of the Interest Income subjected to final tax. Always remember that the base before multiplying the 20% rate should be gross of tax or before deducting the final withholding tax charged to interest income.
Under the current rules 18, the following guidelines shall be observed in determining whether depreciation expense can be claimed or not on account of Vehicles capitalized by the taxpayer, or in claiming other expenses and input taxes on account of said Vehicle: • No deduction from gross income for depreciation shall be allowed unless the ...
In general, there is no limitation on deductible amount under the itemized deductions (as compared to optional standard deduction in the Philippines that is only up to 40% of gross income), except that is has to be reasonable.
3 paź 2024 · OFWs car loan Eligibility criteria. Several basic requirements determine if an OFW is eligible for a car loan, they are as follows -. Age: Borrowers must be between 21 and 65 years old at the loan's maturity. Income: A minimum monthly income of PHP 30,000 to PHP 40,000 is typically required.
14 kwi 2020 · Payment of all loans including but not limited to salary, personal housing, and motor vehicle loans as well as credit card payments, falling due within the Enhanced Community Quarantine (ECQ) period without incurring interest, penalties, fees and other charges.
