Name: Daryl D.

Cabanza Section: 4A
Date: 02/21/18 Score:

COMPARATIVE ANALYSIS OF RA 8424 and 10963 (BIR FORMS)

BIF FORM 1601-E BIF FORM 1601-C BIF FORM 1601-F

If non large taxpayer, On or If non large taxpayer, On If non large taxpayer, On or

before the 10th day of the
month following the month
in which withholding was
made except for taxes
withheld for the month of
December which shall be
filed on or before January 15
of the succeeding year.
or before the tenth
(10th) day of the month
following the month in
which withholding was
made except for taxes
withheld for the month
of December which shall
be filed on or before
January 15 of the
succeeding year.
before the tenth (10th) day
of the month following the
month in which withholding
was made except for taxes
withheld for the month of
December which shall be
filed on or before January 15
of the succeeding year.

If large taxpayer, subject to If large taxpayer, subject If large taxpayer, subject to

EFPS, subject to groupings
and their specific deadlines
of filing. E.g. Group A, 15
days following end of the
month
to EFPS, subject to
groupings and their
specific deadlines of
filing. E.g. Group A, 15
days following end of the
month
EFPS, subject to groupings
and their specific deadlines
of filing. E.g. Group A, 15
days following end of the
month

COMPARATIVE ANALYSIS OF RA 8424 and 10963 (Deadline)

Under the TRAIN LAW the Deadline of 2nd Installment

deadline of 1st quarter and of Annual Income Tax Due
Annual ITR is every May 15 is October 15

[1]
Name: Daryl D. Cabanza
Date: 02/21/18
COMPARATIVE ANALYSIS OF RA 8424 and 10963 (INDIVIDUAL)
Pure Compensation
Income Earner
The TRAIN law now
imposes an income tax
upon individual alien and a
new tax schedule is
exhibited
There is no personal and
additional exemption
applicable to individuals but
the annual income of first
250,000 is exempt under the
TRAIN LAW
The 13th month pay
exemption has increased to
90000
The fringe benefit tax
subject to final tax was
increased to 35% and the
employees of ROHQ RAH
and OBU are subject to
15% tax rate
Pure Business Income
Earner
Under the TRAIN LAW
aside from progressive tax
table, the self employed
individuals and/or
professional shall have the
option to avail of 8% tax on
gross sales or gross receipts
and other non operating
income. This option is
applicable only if the
taxpayer did not exceed the
new VAT threshold of
3,000,000
Under the Pure Business
Earner if it exceed the new
Vat threshold of 3,000,000
it is entitled to a new tax
rate under the new tax
schedule wherein the first
250,000 is exempt.
[2]
Section: 4A
Score:
Mixed Earner
All income from
compensation under
mixed earner is entitled
to new tax schedule
where the first 250,000
is exempt
Income under Business
or Practice of
Profession. If the total
gross sales and/ or
gross receipt and other
non operating income
do not exceed the Vat
threshold it will be tax
either at a new tax
schedule or 8% of
income tax based on
gross sales and gross
receipt at the option of
the taxpayer
Under Business or
Practice of Profession,
if it exceed the
threshold of 3,000,000
the tax rate prescribed
is the new tax schedule