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…
How to Register Your Business with BIR Using the New Business Registration Portal
The Bureau of Internal Revenue (BIR) has made it convenient for new businesses or those who are already in business but are not yet registered with BIR to apply for business registration online. With the new system, taxpayers can avoid the long lines in the…
10 Tax Mapping Violations Business Owners Should Avoid
Whether you are a large corporation or Micro, Small, and Medium Enterprises (MSMEs), you have to go through the BIR’s Tax Compliance and Verification Drive or Tax Mapping, as it is popularly known to many. Tax mapping is a regular inspection of business establishments…
Ordinary Stock Corporation VS. One Person Corporation: Which is Better?
More Filipinos are venturing into entrepreneurship. At the time of crisis, our creativity and ingenuity have been unleashed allowing us to provide products and services that can help address the gap and the call of times. Operating our business within the bounds of the law…
5 Reasons Why Should You Register as a “One-Person Corporation (OPC)”
The Revised Corporation Code (RCC) presented the One-Person Corporation concept to answer business owners’ needs and make doing business in the country easy. The OPC is an organization with a single shareholder. It allows business owners to register a corporation without looking for five incorporators…
Basics of Tax Compliance for Freelancers and Online Sellers
The extended lockdown imposed in the Philippines has made “work-from-home” a household name. The ease and convenience of working from home without the daily commute and the flexibility to take care of one’s children while working are what lured most Filipinos to become digital workers….
