Simplified Guide to Processing Loose Leaf Books of Account for BIR Compliance

In the realm of taxation and financial compliance, the Bureau of Internal Revenue (BIR) in the Philippines requires all registered taxpayers, whether engaged in a profession, business, or self-employment, to maintain meticulous accounting records of their financial transactions. These records are collectively known as the “books of accounts.” Complying with this essential aspect of taxation… Continue reading Simplified Guide to Processing Loose Leaf Books of Account for BIR Compliance

3 Tax Deductible Expenses with Limits in the Philippines

When it comes to tax deductions in the Philippines, the world of finance can seem like a labyrinth. There are many rules such as you can deduct whatever business expenses in the practice of your trade or profession for itemized deductions. But certain deductibles also come with some limitations. Thus, understanding the ins and outs… Continue reading 3 Tax Deductible Expenses with Limits in the Philippines

Unlock Tax Savings Potential with Expert Tax Compliance 

Are you keen on maximizing your tax savings? Seeking guidance on how to achieve it from a professional tax planning and accounting expert is the best solution. If you aim to optimize your financial systems and retain a larger portion of your profits, a comprehensive review of your tax planning strategy is essential. The BIR’s… Continue reading Unlock Tax Savings Potential with Expert Tax Compliance 

Calling All VAs: Conquer Your Tax Challenges Now

Calling all and responsible virtual assistants out there, listen up! Taxes might seem like a daunting maze, especially when you work remotely or have an overseas employer. When you’re doing everything on your own at home, it may seem like a daunting tax. But fear not, because we’re here to guide you through the complex… Continue reading Calling All VAs: Conquer Your Tax Challenges Now

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

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

Senate Approves Extension of Estate Tax Amnesty until June 14, 2025

The Senate has given its approval to Senate Bill (SB) 2219, granting a two-year extension to the estate tax amnesty period until June 14, 2025. The decision was made in response to the concerns of taxpayers who were unable to utilize the initial extension due to the pandemic. According to the Senate, House Bill 7907… Continue reading Senate Approves Extension of Estate Tax Amnesty until June 14, 2025

BIR Revokes Accountant’s Accreditation in Crackdown on Fake Receipt Syndicate

The Bureau of Internal Revenue (BIR) has invalidated the accreditation of an accountant who was involved in a syndicate specializing in fake receipts. Commissioner Romeo Lumagui Jr. announced that Jennifer Cunanan Roncesvalles, an external auditor, has had her certified public accountant (CPA) certificate revoked. This action comes in light of her connection to companies that… Continue reading BIR Revokes Accountant’s Accreditation in Crackdown on Fake Receipt Syndicate

How to Correctly File Your PH Income Tax Return

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. If you manually file, which is the traditional way, you need to visit the nearest Revenue District Office to submit your Income Tax Return.   If you want to electronically… Continue reading How to Correctly File Your PH Income Tax Return

Enhanced BIR Chatbot for RDO Inquires & Other Concerns

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 digital assistant to taxpayers who need help, whether it’s finding out their RDO code or their TIN. The name Revie is short for the last word Revenue. This AI… Continue reading Enhanced BIR Chatbot for RDO Inquires & Other Concerns

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