Folks someone help me out with this (or point me in the right direction for this?)
Im considering an offer which Ive been told the tax rate will be 15% as I will be directly employed for the Regional HQ. Is this correct? Ive found the following on the BIR website:
) On the gross income in the Philippines of Aliens Employed by Regional Headquarters (RHQ) or Area Headquarters and Regional Operating Headquarters (ROH), Offshore Banking Units (OBUs), Petroleum Service Contractor and Subcontractor Protected content %
I am assuming this is a flat rate that will apply to both my husband and I as we will be both workingfor the same company.
But then I found this and it has caused some confusion - does this apply to non expats?
For Individuals Earning Purely Compensation Income and Individuals Engaged in Business and Practice of Profession
Amount of Net Taxable Income
But Not Over
P Protected content % of the Excess over P10,000
P2, Protected content % of the Excess over P30,000
P8, Protected content % of the Excess over P70,000
P22, Protected content % of the Excess over P140,000
P50, Protected content % of the Excess over P250,000
P125, Protected content % of the Excess over P500,000 in Protected content onward
I'm hoping someone can help with this (or if any Aussies can point me in the right direction).
Thanks in advance,