2. I have drawn a salary from my business. How should I report this income on my individual tax return (i.e. Tax Return – Individuals [B.I.R. 60])?

If your business is a sole-proprietorship business or partnership business, any salary paid to you should be included as part of your business profits and is chargeable to "Profits Tax" but not "Salaries Tax".

For sole-proprietorship business, the salary paid should be declared as part of the business profits in item 7 [Assessable Profit] in Part 5 [Profits Tax] of the Tax Return – Individuals (B.I.R.60) , and should not be reported again under Part 4 [Salaries Tax] of this Return.

As for a partnership business, the salary paid should be declared as part of the business profits and reported in Profits Tax Return (B.I.R. 52) for that business, and should not be reported again under Part 4 [Salaries Tax] of the Tax Return – Individuals (B.I.R.60).