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TAXATION for newly licensed physician

new tax bir taxation help

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#1 clareyel

clareyel

    PMD Med Student

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Posted 03 November 2017 - 06:18 AM

I'm a newly licensed physician who wants to undergo residency training after a month of moonlighting. Both residency and moonlighting stints already minused taxes from my pay.
1. Do I still need to go to BIR (I read there were monthly, quarterly and annual taxes to pay) ?
2. I registered for a TIN while I was still a student so I put in unemployed do I need to change it to self employed? when it will only be a month before I become employed?

#2 marshmallowmd

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Posted 06 November 2017 - 10:43 AM

You will need to submit your TIN to the training hospital and they (HR) will be the one to file/update your registration. 

If, however, you have already registered with BIR, you will need to update it yourself or coordinate with HR regarding the filing of taxes, especially if you also have other sources of income aside from residency (eg. alternative track family medicine where you can moonlight at the same time as doing residency).  Please take note that most training hospitals prohibit residents from going on moonlighting during training (usually stated in the contract).

 

If you're sure that you only plan to moonlight for a month and plan to enter training, don't register immediately.  Register after finishing residency when you'll start private practice.

 

You could also post your question in FB groups like Moonlight Bay, AdvocateMD and Philippine Society of General Physicians to get the opinions of other doctors. Medyo napag-iwanan na itong PMD forum eh. 



#3 clareyel

clareyel

    PMD Med Student

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Posted 07 November 2017 - 06:58 AM

You will need to submit your TIN to the training hospital and they (HR) will be the one to file/update your registration. 
If, however, you have already registered with BIR, you will need to update it yourself or coordinate with HR regarding the filing of taxes, especially if you also have other sources of income aside from residency (eg. alternative track family medicine where you can moonlight at the same time as doing residency).  Please take note that most training hospitals prohibit residents from going on moonlighting during training (usually stated in the contract).
 
If you're sure that you only plan to moonlight for a month and plan to enter training, don't register immediately.  Register after finishing residency when you'll start private practice.
 
You could also post your question in FB groups like Moonlight Bay, AdvocateMD and Philippine Society of General Physicians to get the opinions of other doctors. Medyo napag-iwanan na itong PMD forum eh. 

Thank you soo much!!