WHO ARE PROFESSIONALS?By: Bureau of Internal Revenue
Professionals, refer to an individual or a group of individuals who are engaged in the
practice of profession or calling, WITH or WITHOUT LICENSE from a regulatory board or body. Professionals include but are not limited to lawyers, CPAs, doctors of medicine, architects, engineers, doctors of veterinary science, dentists, professional entertainers, professional athletes, insurance agents, insurance adjusters, talent managers, customs, real estate and stock brokers, and all other professionals enumerated under existing laws and regulations.
THINGS TO CONSIDER BEFORE ENGAGING
IN THE PRACTICE OF PROFESSION
1. Registration with the BIR (p />
2. Issuance of Official Receipts (ORs) authorized by the BIR 3. Keeping and maintaining of Books of Accounts4. Withholding and remittance of withholding taxes, if applicable5. Filing of required tax returns and payment of taxes due thereon6. Submission of required information and returns to the BIR.