- Thread Author
- #1
Need help understanding how TRAIN law works.
If my basic pay is PHP 25000. Will I stick get an income tax return here in the Philippines? Or instead of a refund, will it be a deduction of tax(es) for the following year?
Reason I ask this is because, I can't ask yet our financing as I do not have a better understanding how TRAIN law works.
I've been in 1 company for the last 5 years and never have an income tax return but they always ask for us to sign a BIR 2316 form every year.
If my basic pay is PHP 25000. Will I stick get an income tax return here in the Philippines? Or instead of a refund, will it be a deduction of tax(es) for the following year?
Reason I ask this is because, I can't ask yet our financing as I do not have a better understanding how TRAIN law works.
I've been in 1 company for the last 5 years and never have an income tax return but they always ask for us to sign a BIR 2316 form every year.
