beegee Posted June 23, 2011 Posted June 23, 2011 HiI'll be receiving my pension in the UK and paying tax there (not by choice), would I need to pay tax when transferring funds into the Philippines?Brian Link to comment Share on other sites More sharing options...
Mr Lee Posted June 23, 2011 Posted June 23, 2011 HiI'll be receiving my pension in the UK and paying tax there (not by choice), would I need to pay tax when transferring funds into the Philippines?Brian To the best of my knowledge, only money earned within the Philippines is subject to their tax system, so basically the answer to your question is no, you will not have to file Philippine income tax. The second part is that we all pay taxes in the Philippines by way of Value Added Tax (VAT) on most items we purchase while living in the Philippines. Besides that, we pay tax on interest earned in Philippines banks on money we keep in them, but that is automatically deducted, so no tax return is necessary. Link to comment Share on other sites More sharing options...
Call me bubba Posted June 23, 2011 Posted June 23, 2011 HiI'll be receiving my pension in the UK and paying tax there (not by choice), would I need to pay tax when transferring funds into the Philippines?Brian like Kuya Lee stated there is NO TAX. but try to find the LOWEST rate to transfer your FUNDS from the UK to RP. western union is :lol: way high, inquire on the other ways to send/obtain/transfer your funds here,. enjoy your stay here. :emostrongbow: Link to comment Share on other sites More sharing options...
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