CHANGE IN STATUS

If during the taxable year:

-the taxpayer marries or should
have additional dependents
-the taxpayer dies
-becomes 21 years old
-becomes gainfully employed
-the spouses, with qualified
dependent children, became legally
separated

Health and/or Hospitalization

nsurance Premium (HHIP)

.The insurance shall be taken out by the

individual taxpayer for himself or for
his family.
. The family gross income is not more than
25,000php for the taxable year
. The amount being claimed shall not exceed
2,400php a year or 200php a
month per family.

Pure Compensation Income Earner

Gross compensation earner
Less: Basic personal exemption
Additional exemption
Payment for health and/or
hospitalization insurance premium (HHIP)
Taxable compensation income
Tax Due
Less: Tax withheld on compensation
Tax payable (overpayment)

Pxx
Pxxx
xxx
xxx (xxx)
_____
Pxxx
Pxxx
(xxx)
Pxxx

Pure Business Income Earner

Gross business/Professional Income

Pxxx
Less: Basic personal exemption
Pxxx
Additional exemption
xxx
Payment for health and/or
xxx (xxx)
Tax Due
Pxx
hospitalization insurance premium (HHIP)
Less: Creditable
withholding taxes
Pxxx
_____
Prior years excess credit
xxx
Taxable net income
Tax payments for the previous quarters
xxx
Pxxx
Tax withheld at source
xxx
Foreign income tax credit
Tax payable (refundable)

xxx

(xx
Pxx

Mixed Income Earner

Gross Compensation income
Gross business/professional income
Less: Allowable business expenses
Basic personal exemption
Additional exemption
Payment for heath and/or
hospitalization insurance (HHIP)
Taxable net income

xxx

Pxxx
Pxxx
xxx
xxx
(xxx)
______

Pxxx

Tax Due
Pxxx
Less: Creditable withholding taxes
Tax withheld on compensation income
Pxxx
Prior years excess credit
xxx
Tax payments for the previous quarters
xxx
Tax withheld at source
xxx
Foreign income tax credit
xxx
(xxx)
Tax payable (refundable)
Pxxx

Quarterly income tax due from business income or

practice of profession

Gross income (comulative amounts)

Pxxx
Business expenses (comulative amounts)
Basic personal exemption
Additional exemption
Payment for HHIP
Taxable net income
Pxxx
Pxxx
Tax Due
Less: Creditable withholding taxes:
Prior years excess credit
Quarterly withholding taxes
Quarterly tax payments
Foreign tax credit
Tax payable (refundable)

Q1
Pxxx
(xxx)

Q2
Pxxx
(xxx)

Q3
Pxxx
(xxx)

(xx

______________________ (xxx)
Pxxx
Pxxx
Pxxx
(xxx)
(xxx)
(xxx)
Pxxx

Pxxx
(xxx)
(xxx)
(xxx)
(xxx)
Pxxx

Pxxx
(xxx)
(xxx)
(xxx)
(xxx)
Pxxx

(x