Engineering Board Exam Reviewer · ECE · medium
The Bureau of Internal Revenue requires professionals in private practice to:
- Pay taxes only if they are employees
- Pay no taxes on professional fees
- Register only with IECEP
- Register, issue official receipts and pay applicable taxes
Answer
D. Register, issue official receipts and pay applicable taxes
Solution
Professionals are also typically required to pay the Professional Tax Receipt (PTR) to the LGU.
More ECE questions
- A professional partnership of engineers is generally formed for the purpose of:
- A partner who contributes only his skill or labor to a partnership is called:
- A corporation formed by a single stockholder under the Revised Corporation Code is called a:
- The Revised Corporation Code of the Philippines is:
- A business organization formed by two or more persons who contribute money, property or industry to a common fund with the intention of…
- A business organization owned by one person who bears unlimited liability is a:
- A broadcast station's transmitter, after an upgrade, emits spurious signals that interfere with an airport's navigation frequencies. Which…
- An ECE in his free time, using only personal equipment and unrelated to his job as a sales engineer, invents a new audio circuit. With no…
- An ECE designs an improved antenna while employed as an R&D engineer whose job is antenna design, using company equipment. There is no…
- A telco employee downloads subscribers' names and numbers and sells them to a marketing company. Which laws are most directly violated?