Go Back   British Expats / Living & Moving Abroad / Far East and Asia / Philippines

Reply
 
Thread Tools
Old Feb 8th 2013, 12:47 pm   #1
Forum Regular
 
Joined: Nov 2008
Posts: 57
robbo462003 is an unknown quantity at this point
Default SRRV Retirement Visa

Hello everyone ,can anyone tell me are holders of the SVVR visa exempt from paying tax on pensions received from outside the phil?
robbo462003 is offline   Reply With Quote
Old Feb 8th 2013, 10:06 pm   #2
BE Enthusiast
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 494
tropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to behold
Default Re: SRRV Retirement Visa

I believe it used to be that you paid $360 a year and were not taxed on pensions from abroad.
I am sure someone on a SRRV will confirm or otherwise.
tropicofcancer is offline   Reply With Quote
Old Feb 8th 2013, 10:13 pm   #3
BE Enthusiast
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 494
tropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to behold
Default Re: SRRV Retirement Visa

Under "3"

Benefits of SRRV Holder (Special Resident Retiree's Visa)
More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority

Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits:

1. Option to Retire Permanently
• You may live, work and study in the Philippines

2. Multiple Entry Privileges
• You may travel outside the Philippines and re-enter anytime

3. Exemptions from:
• Income tax over your pension and annuities;

• Exit and re-entry permits of the Bureau of Immigration;
• Annual registration requirement of the Bureau of Immigration;
• Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;
• Travel tax, if you stay in the Philippines is less than one year from the last entry date; and
• I-Card

As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:

• Alien Employment Permit
• Driver's License
• Tax Exemption/Extension Certificate
• Tax Identification Number
• National Bureau of Investigation (NBI) Clearance
tropicofcancer is offline   Reply With Quote
Old Feb 9th 2013, 2:12 am   #4
Is
Premium Member
 
bakedbean's Avatar
 
Joined: Feb 2009
Posts: 17,570
bakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond reputebakedbean has a reputation beyond repute
Default Re: SRRV Retirement Visa

Hi Tropic, have you got a link to the Government website? Just thinking this would be a useful "sticky" in the Philippines section for folks thinking about retirement in the 'Peens.
bakedbean is offline   Reply With Quote
Old Feb 9th 2013, 6:03 am   #5
Forum Regular
 
Joined: Nov 2008
Posts: 57
robbo462003 is an unknown quantity at this point
Default Re: SRRV Retirement Visa

Thanks guys for your quick response.I had seen the PRA SRRV Classic benefits listed and had previously looked at the Philippine Tax web site,both saying pensions are Exempt from income tax,but wanted to be sure.The $360 annual fee is the only recurring cost I see mentioned.So as long as the annual cost remains at that level the SRRV Visa is a very good deal for me.
robbo462003 is offline   Reply With Quote
Old Feb 9th 2013, 7:23 am   #6
BE Enthusiast
 
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 494
tropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to beholdtropicofcancer is a splendid one to behold
Default Re: SRRV Retirement Visa

This relates to the Philippine Retirement Authority:

http://pra.gov.ph/main/srrv_program2/2?page=1

I am seriously considering paying tax in the Philippines as pensions would be exempt.

This does not apply to "Government Pensions" See List:
http://www.hmrc.gov.uk/manuals/intmanual/INTM343040.htm

This seems to exclude UK State Pension.

I am checking out the situation regarding the 13A visa and taxation on pensions. It seems clear on the SRRV pay $360 a year, and you pay no tax on your pension from abroad.
tropicofcancer is offline   Reply With Quote
Old Feb 9th 2013, 5:24 pm   #7
piero 
Forum Regular
 
Joined: Jun 2012
Posts: 228
piero is an unknown quantity at this point
Default Re: SRRV Retirement Visa

hi i don't think its just SRRV that don't pay tax . if you pay tax you only pay it in 1 country. and if in The Philippines your UK state pension will go up as in the UK. Me i pay $10 a year for my SRRV
piero is offline   Reply With Quote
Old Feb 9th 2013, 7:17 pm   #8
piero 
Forum Regular
 
Joined: Jun 2012
Posts: 228
piero is an unknown quantity at this point
Default Re: SRRV Retirement Visa

double taxation or something like that and between UK and The Philippines you only pay once,,,,,,,unless its changed. Maybe all the British pensioners in Australia should come here to get the yearly increase , not sure about the winter allowance i think we miss out on that
piero is offline   Reply With Quote
Old Feb 10th 2013, 1:31 am   #9
BE Enthusiast
 
sunnydays's Avatar
 
Joined: Jan 2005
Location: Philippines
Posts: 353
sunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud ofsunnydays has much to be proud of
Default Re: SRRV Retirement Visa

If your Filipino wife has a foreign passport she can join the SRRV as a "returning Filiipino" for something like 300$. This sum stays in the bank as a bond and there is no annual fee.
The wife is the principal Visa holder and he husband is the dependent.
The renewal is 3 years and cost is minimal for the card.

What we like about the SRRV is the community spirit, they arrange togethers at Christmas and such like.

The Filipino wife under her foreign nationality is allowed to purchase a plot of land but we found that only the Makati land office are aware of the facility and its easier to use her Filiipino nationality.
sunnydays is offline   Reply With Quote
Old Feb 10th 2013, 6:21 am   #10
Forum Regular
 
Joined: Nov 2008
Posts: 57
robbo462003 is an unknown quantity at this point
Default Re: SRRV Retirement Visa

Your right piero UK pensionishers in the Phil do get the same annual increase to the basic state pension as they would do if they wrere in UK.The Winter Fuel allowance is not paid .
robbo462003 is offline   Reply With Quote
Old Feb 10th 2013, 6:31 am   #11
Forum Regular
 
Joined: Nov 2008
Posts: 57
robbo462003 is an unknown quantity at this point
Default Re: SRRV Retirement Visa

Sunnydays thanks for the reply that SRRV option you mention is great for married folks.However I have been married too many times and have made it clear to the g/f in the Phil that marriage is off the menu.Its a pity I shall miss-out on that huge SRRV saving.
robbo462003 is offline   Reply With Quote
Old Feb 11th 2013, 2:00 pm   #12
piero 
Forum Regular
 
Joined: Jun 2012
Posts: 228
piero is an unknown quantity at this point
Default Re: SRRV Retirement Visa

Quote:
Originally Posted by robbo462003 View Post
Sunnydays thanks for the reply that SRRV option you mention is great for married folks.However I have been married too many times and have made it clear to the g/f in the Phil that marriage is off the menu.Its a pity I shall miss-out on that huge SRRV saving.
not sure its best option for married couples, yes if you both join its a cheaper way and if you need to leave the Philippines in under a year then no travel tax to pay..But if you don't want/need to get married then it is the better long term option, of course you can extend your tourist visa for what almost 2 years or just under but you need to then get an ACR card and maybe report every year.
SRRV you don't need to be married no ACR no reporting to immigration first 2 months each year if you do leave in under 1 year no travel tax. Good for a single man if you can put the deposit down and not cry when you go to collect your interest....The 1 off fee you would in time pay for tourist visa to extend plus in time you have to leave yes come back next day and start again
piero is offline   Reply With Quote
Old Feb 11th 2013, 2:09 pm   #13
piero 
Forum Regular
 
Joined: Jun 2012
Posts: 228
piero is an unknown quantity at this point
Default Re: SRRV Retirement Visa

Ah yes the winter fuel allowance , well i,m still sweating. so only joking
piero is offline   Reply With Quote
Old Dec 4th 2013, 2:37 am   #14
Just Joined
 
Joined: Dec 2013
Posts: 1
terrymate is an unknown quantity at this point
Default SRRV Retirement Visa. Seal from embassy London.

This may be useful to anyone seeking a seal on their "No Trace" police record doc. from the London Philippine embassy (necessary for the SRRV).

Email received 3 Dec 2013.


With reference to your email, I wish to inform you that prior to authentication by the Philippine Embassy in London, all British public documents, including police clearance certificates must have already been legalized by the British Foreign and Commonwealth Office (FCO). Please note that some documents need to be legalized first by a Notary Public before these can be legalized by the FCO. For more information on the FCOs legalization procedures, its website is www. fco.gov.uk/legalisation and contact details are TEL. NO. 037 00 00 2244; FAX NO. 01908 295122; EMAIL [email protected].



Once the documents requiring authentication have been legalized by the FCO, the fee charged by the Embassy is 18.00 (per document) payable in cash British postal money order or international bank draft to the Philippine Embassy. There is no application form required, just send the original document with one photocopy and a pre-paid self-addressed registered or special delivery envelope for its return.





Philippine Embassy

London
terrymate is offline   Reply With Quote
Old Dec 11th 2013, 1:39 am   #15
BE Forum Addict
 
Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,762
quiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond reputequiltman has a reputation beyond repute
Default Re: SRRV Retirement Visa

Re exemption from UK tax for holders of SRRV. We have recently emigrated here to Cebu and before we left I corresponded with HMRC. Although there is a double taxation agreement with the Philippines it does NOT apply to any pensions classed as Government pensions. This includes State Pensions, Teachers Pensions and similar. It does apply to private pensions.
In my case I have a couple of smallish private pensions so I can apply to receive these gross BUT HMRC take tax due on my state pension from these private pensions.So the difference will not be large but still welcome!You have to have been away from UK for a full tax year in order to claim.
Yes you still get the annual increase and just last month I got the winter fuel allowance credited to my UK account even though both HMRC & DWP know we live here. Maybe next year it won't appear! I also got the 10 pound Xmas bonus!

Also you can join PhilHealth as an individual paying subscriber. This gives you various discounts on hospital treatment and may be worth it for expats who cannot afford full medical insurance. The latest cost I have is 2500 pesos a year.

Does anyone know if the Philippine government have actioned their decision to grant SRRV holders similar privileges as senior citizens? This includes 20% discount on prescriptions, free parking etc. The PRA published a notice last year that the government was going to implement this.
quiltman is offline   Reply With Quote
Reply

Go Back   British Expats / Living & Moving Abroad / Far East and Asia / Philippines


Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off



All times are GMT. The time now is 8:34 am.


Powered by vBulletin: ©2000 - 2017, Jelsoft Enterprises Ltd.
© 1999-2010 BritishExpats.com