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If you are an individual whose income is generated from the practice of trade, business, and/or practice of a profession, then you are self-employed. Although it may sound really great because you don’t have a boss to deal, it also comes with its own set of complexities. For starters, you
If you are an individual whose income is generated from the practice of trade, business, and/or practice of a profession, then you are self-employed. Although
If you are an individual whose income is generated from the practice of trade, business, and/or practice of a profession, then you are self-employed. Although
Seek professional tax, accounting, bookkeeping, & auditing services to avoid the following penalties, which you may incur for not being able to pay your taxes.
If you have multiple streams of income, take charge of your accounting, bookkeeping, and tax compliance with proper registration as a mixed income earner.
Doing EFPS Payment? Here’s what you must do to pay tax dues online. Remember, it’s vital to have proper bookkeeping and accounting to ensure tax compliance.
Are you wondering what is eBIRForms? The Electronic Bureau of Internal Revenue Forms (eBIRForms) is a software you can install on your desktop. It was
Stay on top of your accounting, auditing, and taxes by optimizing technology and using it to your advantage. Learn how to file taxes online with the BIR’s eFPS.
Proper accounting and bookkeeping entails Official Receipts. Learn why these tiny documents matter in operating your business in the Philippines.
The BIR mandates that all social media influencers must pay their tax dues. Failure to do so may result in hefty fines, penalties, and tax evasion charges.
Learn more about the common type of online business transactions and proper taxation.
Traditionally, the books of accounts are logged into a ledger or book and information is encoded by hand. However, this tedious task is now made
This BIR Certificate of Registration (COR) or BIR Form 2303 proves you have been given the legal rights to operate your business in the Philippines.
Listed below is everything you need to know about tax rules when it comes to buying and selling of properties in the pearl of the orient.
What are the usual findings if your business undergoes a BIR tax assessment? Read more in this article as we have listed everything for you.
Check out the benefits of the BIR online payment setup, allowing you to transact in your pajamas from the comforts of home, and how to get it done seamlessly
Foreigner-owned businesses are not exempted from filing taxes under the Philippine laws. But tax rates vary depending on the nature of income earned.
Learn how convenient it is for you to remit your taxes to the BIR so there’s no excuse to be remiss in your tax obligations.
During the 1980s, foreign remittances, particularly those made by overseas Filipino workers (OFWs), made up two percent (2%) of the Philippines’ Gross Domestic Product. Over
To get the ball rolling on your tax planning, here is a compiled list of 8 strategies that you may apply to your business for better tax efficiency.
Registered businesses in the Philippines are required to file their taxes to two government bodies, namely the BIR and the LGU where the business is located.
Here are the 10 common mistakes that you should be wary not to commit while preparing for and filing your income tax returns with the BIR to avoid fines.
Are taxes important? Do they truly matter? We have compiled a list of all you need to know about taxes in this article. Don’t miss this learning opportunity.
Find out more about eBIR Forms as it makes the filling process easier, cutting downtime that would be spent on waiting when doing the manual filling process.
It may seem cumbersome to store written or electronic receipts for 5 to 10 years, but there is a good reason for such protocol.
If you want more information on how to transfer from an old RDO to a new one, here are all the steps you need to take note of to ensure you do it correctly.
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.
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
You left your 8-5, professional career in pursuit of a business. Good for you! Congratulations on embarking on your journey to become a full-fledged entrepreneur.
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,
Going through an audit is a major headache because you need to dig up records to prove you are not deliberately evading taxes or under-declaring
As the year draws to an end, everyone who earns income must face the inevitable…filing and paying for income taxes. As the popular adage goes,
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
Business owners must be keenly aware of VAT because it’s something they will be dealing with on a regular basis. If you’re a new entrepreneur,
Now that you’re on the other side as a business owner, you will be dealing with withholding taxes again. This time around though, you cannot
What is OPT? Other Percentage Tax or OPT is a business tax imposed on INDIVIDUALS or BUSINESSES that sell or lease goods or services with
For instance, have you given any thought to which tax classification you want to register under? The choice you make with regards to that can
Apart from the usual income tax, if you are selling taxable products and services, then you have to be concerned with value-added tax (VAT). Others
Fortunately, here are a few tips to manage taxes better: 1. Know your deadlines and other pertinent information Missing tax deadlines would mean penalties and
