Post by account_disabled on Nov 12, 2023 5:53:18 GMT
It from the revenue/income. This is also the current position of the KIS on this topic, although there are no specific guidelines or information from the Ministry of Finance. This answer is also provided to e-mail questions sent to KIS, which does not mean that the position on this matter will be the same in the future. If there is any new information, we will definitely inform you about it Overpayment of health insurance premium in the annual settlement and income tax When it comes to settling the overpayment resulting from the annual settlement of health insurance contributions, in accordance with what we have already agreed.
if the entrepreneur has made deductions from income/revenue, he adds the amounts previously deducted accordingly. Depending on the chosen form of taxation, the overpayment of health insurance premium received will be added accordingly. . Tax scale: Entrepreneurs settling on general principles cannot include the health insurance premium paid in their tax-deductible philippines photo editor costs or deduct it from their income. Therefore, the overpayment is not refunded. . Flat tax: in accordance with art. section c of the Personal Income Tax Act, the entrepreneur reduces the amount of tax-deductible costs if he has previously included the health insurance contribution as costs.
The received refund amount is entered into the KPiR as other business-related expenses. Enters a negative amount as a cost adjustment. or the entrepreneur adds health insurance premiums previously deducted from income to business income. Pursuant to Art. section a of the Personal Income Tax Act, the refund of contributions that the entrepreneur deducted from income is then added to the income in the tax return submitted for the year in which he received the refund.
if the entrepreneur has made deductions from income/revenue, he adds the amounts previously deducted accordingly. Depending on the chosen form of taxation, the overpayment of health insurance premium received will be added accordingly. . Tax scale: Entrepreneurs settling on general principles cannot include the health insurance premium paid in their tax-deductible philippines photo editor costs or deduct it from their income. Therefore, the overpayment is not refunded. . Flat tax: in accordance with art. section c of the Personal Income Tax Act, the entrepreneur reduces the amount of tax-deductible costs if he has previously included the health insurance contribution as costs.
The received refund amount is entered into the KPiR as other business-related expenses. Enters a negative amount as a cost adjustment. or the entrepreneur adds health insurance premiums previously deducted from income to business income. Pursuant to Art. section a of the Personal Income Tax Act, the refund of contributions that the entrepreneur deducted from income is then added to the income in the tax return submitted for the year in which he received the refund.