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Are you a professional providing services in the Philippines? If so, it’s essential to familiarize yourself with the Professional Fee Withholding Tax (PFWT). This tax is applied to your service fees and other payments, and understanding how to compute and fulfill your tax obligations is crucial. If you’re unsure about
Are you a professional providing services in the Philippines? If so, it’s essential to familiarize yourself with the Professional Fee Withholding Tax (PFWT). This tax
Picture this: you’re a hardworking employee, putting in your blood, sweat, and tears to make ends meet. Fortunately, there are benefits waiting for you beyond
Are you a business owner or a skilled professional practicing your craft? If so, it’s essential to understand and fulfill your tax obligations. One of
Taxes can be a daunting topic for many individuals, especially when it comes to understanding the different rates and options available. However, there’s good news
Running a business, no matter how small, means dancing with taxes. As the famous adage goes: No one can escape from death and taxes. This
Hey there, fellow entrepreneurs! Let’s dive into the concept of transfer pricing in the Philippines. Now, you might be wondering what this is all about.
Have you ever received a letter from the BIR stating that you failed to file your required tax returns? This letter is known as an
When it comes to filing your income tax return as a business owner, you may find yourself faced with a choice between two confusing options.
When you first start your business, understanding the different taxes that apply to you is essential for proper compliance. Notably, it is not necessary for
Individuals and businesses need to pay their taxes on or before the 15th of April. You can choose to file your tax manually or electronically.
It is the tax season in the Philippines which means people who earn an income will have to file their income taxes soon. Failing to
Have you heard of Revie? Revie, the 24/7 chatbot, was launched by the Bureau of Internal Revenue (BIR) in the year 2021 to serve as
A tax clearance is a certificate issued by BIR or the Bureau of Internal Revenue. It’s a document that many businesses or taxpayers commonly request
If you are a business owner in the Philippines and your financial year just ended, you should start preparing for the audit season. With proper planning and
Audited Financial Statement is also known as AFS. It is a legal document illustrating the financial standing of a company. It is designed to give
There are many things that are inescapable, unavoidable, and inevitable. Retirement is one of those things, along with taxes. Eventually, certain positions, professions, and laws
American expats living in the PH are expected to do accounting, bookkeeping, and tax filing to satisfy the IRS while settling appropriate dues to the BIR.
Donor’s tax is the tax levied by the Bureau of Internal Revenue on any donation or gift. It is imposed on voluntary transfers of property
The current pandemic has made it evident that there is a need for transformation in current payment schemes, and processes, especially on the part of
A gateway to Southeast Asia and a business hub, the Philippines is currently being served by an increasing number of progressive and innovative Lending and
Every business owner or manager would know that taxes are a necessary expense. Thus, minimizing taxes you pay quarterly and annually is one thing many
Taxation of Foreign Source Income is the tax levied on any income derived from sources outside the Philippines. All Philippine resident citizens and domestic corporations
You’re allowed to have one TIN for life for income tax payments and other transactions. Verify online or secure accounting services to recover your lost TIN.
Retain more of your income as a self-employed individual with legal tax avoidance measures. Seek guidance from CPAs who provide professional tax services.
In a country like the Philippines, where there exists a disparate wealth divide, diligent bookkeeping and accounting of assets, as well as estate planning is
The Train Law states that self-employed individuals can enjoy an 8% income tax rate on gross income P3M below. Seek expert accounting services for guidance.
Are you familiar with BIR Form 2307? If you need guidance on figuring out BIR problems and solutions, get in touch with expert accounting services.
The BIR conducts tax mapping at random to find out if businesses are compliant with their rules. Avoid potential problems with expert tax and accounting help.
You may have heard of the term de minimis benefits. As an employee, you’re lucky to receive this because it’s tax-exempt. Meanwhile, employers can consider
Let us help you with BIR problems and solutions with our expert accounting and tax services. We can find out your current RDO and facilitate tax compliance.
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
