According to the Tax Guide for Professionals authored by the Bureau of Internal Revenue, defined Professional, classified as self-employed, refers to individual or a group, practicing his or their profession or calling, with or without license under a regulatory board or body.
For individuals, one of the registration and documentary requirements is the payment of Professional Tax Receipt (PTR) from the local government, if applicable. If the professional is registered in Makati, Professional Tax Receipt (PTR) is payable annually on or before January 31. Persons engaged in the practice of profession requiring government examination is levied an annual professional tax of P300, except those exclusively employed in the government. Please refer http://www.makati.gov.ph/portal/uploads/staticmenu/docs/taxes_and_fees.pdf of the full text of paying miscellaneous taxes, fees and charges.
It also includes BIR requirements in the payment of Annual Registration Fee (RF) of P500 and other related taxes.
Aside from that, Professionals are required to maintain books of accounts using any acceptable method of accounting (accrual or cash basis) in a consistent manner. Their books of accounts are to be audited and examined by an independent Certified Public Accountant (CPA) in order to give an independent opinion regarding its financial condition as required by the Bureau with certain conditions and requirements.
Please refer ftp://ftp.bir.gov.ph/webadmin1/pdf/taxguide.pdf of the full text of the Tax Guide for Professionals
and http://www.dilg.gov.ph/PDF_File/resources/DILG-Resources-201162-e82508a484.pdf of the Full Text of Local Government Taxation.
