Philippines tax

Hi everyone! Just wondering if anyone here knows how Philippines tax works i heard that SSS or GSIS is the public tax?
Regards

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SSS is a the social security the locals pay towards their pensions, and GSIS is another form of pension and ancillary contribution scheme, but not all filipinos qualify for that particular scheme/scam

dont worry it will never effect you, locals only

tax is a different thing entirely, if you buy something usually the tax is included, other than that no one pays tax, if at all

if land is bought or sold tax is paid, (cant be legally sold/bought) until if receives tax clearance

 

I can tell you of one as an example ( I am sure I do not have a need to say who that is) that withholds Tax as you earn Income tax and you get a Yearly Statement of Taxes withheld and Paid to the BIR

 

Never heard of one, If you are Self Employed I guess there would be but as Azon is what is called a regular employee and has been for over 20 years now she is allocated a Code Number as we are in the UK and Tax is deducted at Source as "Pay as you earn" under that code Number. Each year she gets a BIR Statement of Salary earned and Tax paid, Once only I think ( or can remember) she had an under payment wayback that I paid up for her. A few years have seen an overpayment (Mainly Through Admin errors or Overtime payments not included (Where paid in the early days) that she got Rebates, not a Lot but she got them. She never had to visit BIR about Work related things in all the years I have been around so I guess the system Works for those with a Regular Job. Not much else I can add now

 

my missus, when I 1st met her, never paid anything, but I thought her the error of her ways, now she is the one who reminds me, when it time to pay here SSS, she pays it herself 20k a month (she sees her uncles and aunts struggling and struggling every single day (everyday going to bed not knowing where the next mouthful is coming from is down right heart wrenching), they go around like zombies, sat her down one day and explained how it was going to be when she too was 60+ especially if i was already dust in the ground, after a few chats she finally got it (locals become eye blind, and numb to what they see about them, the poverty they come to see is to accept as the norm and that is the future that waits them......i shook that woman, and now we have our own two little ones running about, she now gets it, she sees the neighbours kids with no shoes or one shoe or two left shoes.............every month no with out fail, she pays it herself from her own money, and she also has another axa savings plan of 10k a month which she also pays into now, she has been doing that for 3 years and has 360k of her own money that she is well proud of, when i met her she was a lowly secretary in the local LGU making a chicken a day in terms of salary, now she does all her own stuff online (virtual secretary) on the upwork platform and she makes 100k a month all her own money i dont touch it, she does what she wants with it

 

Most U.S employes receiving the max monthly social security will return what they paid into the plan in 5 years. Keep living (the obvious key) and you are making a profit on your money.