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Office workers who are only in an office role or only freelancing are no longer the ideal setup at this time—layoffs continue as no one knows when they might lose their job. Therefore, many people opt for a safer, more balanced approach: work in the office by day and take on freelance tasks at night to earn extra income. Diversifying income sources is generally better than relying on a single stream. However, tax obligations and payments will differ in this context. Wondering how to handle it? Ask the eTax Assistant on the eTax Mobile app, and here are the tax obligations to consider when you simultaneously work in an office and as a freelancer. Income from two or more sources: you cannot authorize your personal income tax finalization to the company you work full-time for. Q: I currently work full-time for one company but also have two additional part-time jobs (equivalent to two additional income streams). Can I authorize the full-time company to finalize my Personal Income Tax (PIT/TNCN) for me? A: Under current PIT regulations, if you have income from two or more sources (including a full-time job and two part-time jobs), you do not qualify to authorize the tax finalization to the company paying your income. In that case, you must finalize your PIT directly with the tax authority. Three key tax filing milestones to remember: When filing PIT yourself with the tax authority, many people wonder whether to file monthly, quarterly, or at year-end. A: To help you proactively file taxes and finalize, here are the important milestones to remember. Monthly filing: The deadline for submitting tax declarations is no later than the 20th day of the following month in which the tax obligation arises. For example, the March tax period must be filed by April 20. Quarterly filing: The deadline for tax declarations is no later than the last day of the first month of the next quarter following the quarter that triggered the tax obligation. For example, the Q1 period (January–March) must be filed by April 30. Filing per occurrence: The deadline is no later than the 10th day from the date the tax obligation arises. Note: For PIT finalization, the usual deadline is the last day of the third month after the end of the calendar year or fiscal year. Read more (examples and visuals accompany the article).
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…