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MJones

Obtaining A TIN (Tax ID Number)

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MJones

Can a foreigner become a tax resident of the Philippines? And obtain a TIN? Then for example open bank/trading accounts using that number? 

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Goetz1965

Yes, you just need to go to the BIR office and apply for that TIN number.
But a TIN doesnt allow you to open Bankaccount, you need the ACR card for that, proof that you already live here for at least 6 month.

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MJones
4 hours ago, Goetz1965 said:

Yes, you just need to go to the BIR office and apply for that TIN number.
But a TIN doesnt allow you to open Bankaccount, you need the ACR card for that, proof that you already live here for at least 6 month.

I wonder if this TIN could be used in other countries for opening accounts...

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MickyG
6 hours ago, MJones said:

Can a foreigner become a tax resident of the Philippines? And obtain a TIN? Then for example open bank/trading accounts using that number? 

Having a TIN does not make you a tax resident. It means you can if you wish incur taxable liabilities in the Philippines such as investing on the stock market here or generating an income from here. Your overseas capital gains and income taxes are not taxed here

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MJones

This answers my question. I read that some guys were using the Philippine TIN and opneing accounts in other countries. Banks always need a passport and a TIN of that country.  So likely fake news.

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SkyMan
19 hours ago, MJones said:

This answers my question. I read that some guys were using the Philippine TIN and opneing accounts in other countries. Banks always need a passport and a TIN of that country.  So likely fake news.

Why would a bank in another country care about a Philippine tax number or any other Philippine number or doc for that matter?

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MJones

The Philippines has not signed on to some international tax agreements. 

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