I.
1. She does not have to get a new TIN if she plans to also gain income from vlogging.
She will be taxed depending on where the income comes from whether from the
main business or from the vlog channel so she is mixed income.
2a. She will be taxed only here in the Philippines but the income she has to declare is the
whole amount.
2b. Yes she has to pay tax on the amount. She has an gross income of 900,000
3a. Yes it needs to be reported as income, it needs to be valued at how much it would be
if it wasn’t free. Yes she needs to report it as income, companies should also have to pay for
taxes on it. The benefit of it being withholding tax is that it would be cheaper.
3b. Yes she needs to declare it
4. She has the obligation to pay her employees and pay the corresponding taxes for them
5. If all of them were business expense for her vlog then yes it is deductible
6. Yes she can avail the 8% since she is mixed income, the itemized deductions would be
more advantageous.
7. April 15th to the BIR
II.
1. It should be placed as a reduction on sales
2. A: No since it’s value aren’t realized yet. Yes the expense can be deductible
B: Yes but only up to 20%
3. No only the payment for the current year of the prepayment
4. The amount paid still needs to be taxed for both parties
5. No it cannot be deductible
6. Only 1 mil or 20% of the loss can be claimed as insurance paid 80%
7. They still need to pay capital gains tax
8. Everything but E. can be placed as taxable