I'm curious if most of you living in the Philippines have gotten a TIN or not. It sounds like a TIN is equivalent to the SS# in the USA for individuals, with a focus towards income tax and the BIR. Due to EO 98, a TIN is a requirement to do any business with any government entity. This includes NORECO 2, which is where my challenge is. My wife does not have a TIN and I'm leery to get her one. The last thing I need is another taxing agency to deal with, so I'm curious how you avoid getting one these days. She is a dual citizen, so a bit more complicated.
Each individual, or Couples situation will be unique when it comes to Taxes here. When you and your Wife have no TIN then this will mean you and her have never bought a Home or Land, no NORECO Membership etc etc/ A TIN is required by the BIR for both Filipino citizens and foreign nationals engaging in any taxable transaction within the Philippines. For property transactions, the TIN is essential for the payment of capital gains tax, documentary stamp tax, and other related fees. To pay Tax on a Home you need a TIN. Having no TIN and being involved in any Taxable situation is a serious offence in the Philippines and may very well catch up with an individual. With no Taxable situations whatsoever then no TIN is required.
I got an TIN for my wife when we first got married. That allowed me to claim her as a dependent on my US taxes. It is my understanding that her TIN helped get an US tourist visa faster.
I've had a TIN for 15 years now. I needed it to open a bank account (as I recall). The bank needed a TIN so the BIR could collect their taxes on what little interest my bank account generates. You do not need to file a tax return or have any interaction with BIR. If you have income abroad (or a pension) that is not taxed here. The BIR treats overseas income like they treat OFWs (offshore foreign workers) is not taxed.
