Unlocking the Secrets of Fringe Benefits 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 just your regular salary. Those fringe benefits are tantalizing non-monetary rewards bestowed upon you by your generous employer.    From bonuses to housing allowances, meal perks to extravagant vacations, these… Continue reading Unlocking the Secrets of Fringe Benefits Tax

Unlock How to Compute VAT Payable in the Philippines

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 these obligations involves paying taxes in the form of either a percentage tax or a value-added tax (VAT). Whether you fall under the category of a Non-VAT or VAT-registered taxpayer,… Continue reading Unlock How to Compute VAT Payable in the Philippines

Professional Tax Receipt (PTR) Made Easy: Simplify Your Tax Obligations

If you’re a professional in the Philippines, you know that paying taxes is an important part of practicing your chosen career. Without the correct paperwork, you may face repercussions like penalties. But let’s face it, dealing with tax paperwork can sometimes feel like decoding a secret language. Fortunately, it’s not as daunting as it seems,… Continue reading Professional Tax Receipt (PTR) Made Easy: Simplify Your Tax Obligations

Get Ready to Save: The 8% Income Tax Rate Option

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 on the horizon for self-employed individuals and small business owners in the Philippines. The introduction of the 8% income tax rate option brings a fresh breeze to the tax landscape. … Continue reading Get Ready to Save: The 8% Income Tax Rate Option

Taxes: The Unavoidable Dance of Business in the PH

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 is an obligation of every Filipino who earns income, including business owners. Even if you’re a small one-person show, like a sole proprietorship, you can’t escape the taxman’s grasp. Your… Continue reading Taxes: The Unavoidable Dance of Business in the PH

Transfer Pricing in PH: A Guide for Savvy Businesses

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. Well, buckle up because we’re about to embark on an in-depth exploration to help you out. Unveiling the BIR’s Transfer Pricing Secrets You’ll be delighted to know that the Bureau… Continue reading Transfer Pricing in PH: A Guide for Savvy Businesses

Understanding What the BIR Open Case 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 open case, and it serves as a reminder to business owners that they need to fulfill their tax obligations. If you’ve been in the business world for a couple of… Continue reading Understanding What the BIR Open Case is All About

Which Tax Rate to Choose for Your Biz? Graduated vs 8% Rate

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. Check out the Graduated Income Tax Rate with OSD (optional standard deduction) versus the 8% Income Tax Rate. While the process of filing taxes may seem daunting, it presents an… Continue reading Which Tax Rate to Choose for Your Biz? Graduated vs 8% Rate

5 Amazing Tools to Track Business Expenditures in 2023

A crucial aspect of running a business is managing expenses. Expenses are made on essential items needed to run your operations, yet, it is important to learn proper management of such so that bad estimates do not cut into your company profits. More importantly, proper expense tracking makes your tax processing and computations easier come… Continue reading 5 Amazing Tools to Track Business Expenditures in 2023

Concepts on Foreign Ownership of Corporations in the PH

  The Philippines is home to a growing economy which brings along with it great business opportunities for both locals and foreign investors from abroad. That said, when it comes to establishing foreign ownership of corporations in the country, foreign investors are usually granted the same rights as citizens of the Philippines.   To enjoy… Continue reading Concepts on Foreign Ownership of Corporations in the PH

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