Rules of the competition
If a person incurs costs in connection with unregister activity, he or she should collect all documents confirming the incurrence of such costs. It is best if these are invoices and bills containing basic identification data, such as name, surname, address. When settling the annual return, remember that costs are recogniz on a cash basis, i.e. on the date of payment incurring the expense . Income tax in the annual return is calculat on the amount of income. it is revenue less costs. This means that it is in the interest of a person running an unregister business to pay as little tax as possible and conscientiously collect all documents on the basis of which the annual settlement was made.Tax calculation The tax on unregister activities is calculat according to the general principles of philippines photo editor the tax scale. We remember that there are two tax thresholds on the tax scale Tax calculation basis Tax Rate and amount Up to, minus the tax rucing amount of, Over on the surplus over, If, apart from unregister activity, a given person obtain income from other sources, such as employment contract, civil law contracts, pension, pension, the tax will be calculat on the sum of income obtain from all sources. Annualreturn for unregister activities Income from unregister activities is settl on the - form. In part E "Income/losses from the source of revenue" in item.
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We have a place to enter revenues, tax-deductible costs and the income/loss from unregister activities will be calculat. With this form of settlement, no monthly advance payments are made during the year, the tax is paid only in the annual settlement, which is why in the screenshot below the field regarding the advance payment due in the line for unregister activities is gray out Unregister activity and reliefs and ductions.
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