Six Things that You Should Know about Foreign Investment in the Philippines
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…
Online Registration of Books of Accounts
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….
SEC Registration Woes: Common Obstacles and How to Overcome Them
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…
Three (3) Online Services You Can Do Using BIR ORUS
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…
Can a Foreigner Register a One-Person Corporation (OPC) in the Philippines?
Many Filipinos believe foreigners cannot own properties or establish a business unless married to a Filipino citizen. In reality, however, foreigners are permitted by law to buy properties or manage a business in the Philippines. Unlike Filipino business owners, foreigners have more documents to process…
Guidelines on the Registration of a One-Person Corporation
“Should I register as a Sole Proprietor or as a Corporation?” – This is one of the most common questions that we get from new business owners and entrepreneurs. Both options have their own advantages and disadvantages. A single proprietorship is simple, while a corporation…
Taxation of Social Media Influencers and the Tax Treaty Benefits
The extended lockdown brought about by the health crisis has made many Filipinos glued to their mobile phones and stay online to connect with their family and friends anywhere around the world. This gave a massive rise to the popularity of the use of social…
VAT or Non-VAT: What Should I Choose for my Business?
One of the important decisions you must make when you register your business with BIR is choosing the tax type that you want to be classified under. One of which is choosing whether you’ll register as a Value-Added Tax (VAT) or a Non-VAT entity. As…
What Are the Implications of an Unregistered Receipt or Invoice
The provision of Section 237 of the Philippine Tax Code is obvious. Taxpayers are required to issue duly registered receipts or sales or commercial invoices for each sale or transfer of goods or services in the amount of one hundred pesos (P100.00) or more. The…
BIR Creates Special Task Force to Track Down Tax Compliance of Taxpayers Engage in Online Business, Including Social Media Influencers
If you are doing business in the Philippines, you are expected to pay your taxes. It is your duty to register your business, file and pay your taxes according to your business type. Even if you are not earning, have negative revenue and there are…
