Financial ratios are powerful tools that can provide valuable insights into a company’s financial health and performance. By analyzing these ratios, business owners can make informed decisions and take proactive steps to improve their financial position. We will discuss the five essential financial ratios that…
The past three years have been challenging for businesses in the Philippines due to the COVID-19 pandemic. Many companies have faced significant losses, leading to closures. Whether closing down completely or transitioning to new ventures, it is crucial for business owners to follow official protocols…
If you’ve ever noticed the vibrant orange “Ask for Receipt” signage displayed in establishments all over the country, you’ll be surprised to learn that it will soon undergo a transformation. The “Ask for Receipt” campaign was launched by the BIR to encourage consumers to actively…
The Philippines, with its strategic location and a population fluent in English, has become an attractive investment destination for foreign entrepreneurs. Whether you’re considering setting up a corporation, partnership, branch office, or representative office, it’s crucial to understand the key facts and requirements for doing…
Filing your taxes online may be intimidating at first. But with organization and preparation, you can tackle this task efficiently and accurately. The key to a successful online tax filing experience lies in taking the time to gather and organize all the necessary documents and…
As a business owner in the Philippines, keeping up with the ever-changing landscape of tax compliance can be challenging. However, the Bureau of Internal Revenue (BIR) has found a way to streamline your invoicing process, optimize your cash flow, and improve your business operations thru…
As a business owner, managing your finances and keeping your books in order is crucial for the success of your enterprise. However, with the myriad of responsibilities that come with running a business, it’s easy for financial records to become disorganized or neglected. This can…
In view of Republic Act No. 11534, or the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law, the 3% Percentage Tax was lowered to 1% beginning on 1 July 2020 until 30 June 2023. Thus, taxpayers must pay the original tax rate of 3%…
The Bureau of Internal Revenue (BIR) has recently issued Revenue Memorandum Circular (RMC) Number 03-2023, prescribing the guidelines on the online registration of books of accounts. This initiative is in line with the bureau’s goal to make tax compliance easier and more efficient for taxpayers….
As an entrepreneur or startup founder, you may dream of taking your company public someday. But before you can do that, you’ll need to register your company with the Securities and Exchange Commission (SEC), a process that can be long and arduous. Many entrepreneurs find…
In today’s digital era, various government agencies in the Philippines are embracing the power of technology to provide better services to citizens. The Bureau of Internal Revenue (BIR) is no exception, as it continues to push its digitalization roadmap with the release of more updates…
As a small business owner, you may have a lot on your plate. From managing employees to keeping up with customer demands, there are a lot of things that need your attention. But one of the most important things that you need to keep in…
