The 8% income tax rate is a new law requiring sole proprietorship and professionals who are PRC registered to pay 8% tax on gross income. If you are a professional,…
If you are a business owner, one of the tasks you need to accomplish is filing your income tax return. The process of filing may seem tedious, especially to an…
If you’re a businessman, it’s critical to understand the various taxes that the government can impose on your operations. Apart from an annual income tax, you could be remitting VAT.…
In the Philippines, individuals and businesses must submit their tax returns by April 15 of each year. Remember, there are different ways to get this done. You can file electronically…
Many people find it difficult to manage their taxes. It is important and compulsory for a taxpayer to file an income tax return (ITR) to the BIR. The returns describe…
The tax system of the Philippines is founded on discretionary deference. This means that it is up to the taxpayer to decide which taxes to pay, how to comply with…
As a business owner, you have other responsibilities apart from running your business. You have to be responsible for your tax dues because this is your social obligation for the…
The tax return system can be hard to understand, especially for those who are unfamiliar with the finer points of the mandates of the law. On top of that, it…
Last June 2021, the Bureau of Internal Revenue (BIR) launched an innovative 24/7 chatbot application called REVIE. This secure platform was designed to provide taxpayers and other stakeholders with information…
In the Philippines, an official document known as a Tax Clearance is issued by the Bureau of Internal Revenue (BIR). The submission of a Tax Clearance Certificate is one of…