Tax
The Requirements of Deductible Expense in the Philippines
To claim tax incentives, companies and individuals must ensure that the expense in question meets the requirements to be considered “tax-deductible.”
September 14, 2021
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To claim tax incentives, companies and individuals must ensure that the expense in question meets the requirements to be considered “tax-deductible.”
To claim tax incentives, companies and individuals must ensure that the expense in question meets the requirements to be considered “tax-deductible.”
You have two deduction schemes to choose from: optional standard deduction or itemized deduction. Which among them will serve your business best?
The tax clearance is your business’s proof that you are tax compliant and in good standing, which shows transparency and reliability to potential investors.
In this article, learn more about the Auditing process conducted by the BIR and understand the implications of this complex process on your business.
All registered companies in the Philippines that hold inventory for sale must present a complete Inventory List to the BIR annually.
Ease of Doing Business Act of 2018 allows for a swift processing of business registration and requirements through the cutting down of red tape.
Management accounting specializes in the preparation of business operation reports which are used to guide decision making and goal setting.
Tax avoidance is vastly different from tax evasion so it is imperative find out the legal ways to lessen your taxes and ease your burdens this tax season.
The financial situation and capacity of your business plays a huge role in dictating your success in your industry. And for you to be able
The year 2021 has just begun, and for enterprising individuals, this means tax document preparations, inventories, and most importantly, renewal of business permits. Registered enterprises
The Bureau of Internal Revenue (BIR) conducts regular inspections of business establishments all over the Philippines. This initiative is part of their Oplan Kandado program,
As a business owner, it would be a nightmare to get audited by the BIR. Once you get a Letter of Authority that allows a
Gross income includes compensation, in whatever form like basic salary, overtime and holiday pay, commissions and incentives Exclusions from gross income are SSS, PHIC and
The withholding tax is a tax liability collected in advance from any individual or business who earns an income. In this article, we will give
VAT, or value added tax, is one of the most ubiquitous taxes in the Philippines. Whether you’re grabbing some takeout, purchasing some new gadgets, or
