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…
Expert Tips for Staying Up-to-Date with BIR Tax Laws and Compliance
Staying up-to-date with the latest Bureau of Internal Revenue (BIR) tax laws and compliance requirements can be a daunting task for any business owner or professional. However, with a little bit of knowledge and effort, you can easily navigate the complex world of BIR regulations…
Five (5) Tax Compliance Hacks for Start-ups After Business Registration
Starting a new business is a big undertaking, and it’s important to ensure that you have all your ducks in a row when it comes to tax compliance. Failing to properly handle your taxes can lead to significant fines and penalties, and it can even…
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…
Why Businesses Should Outsource their Accounting and Tax
Many small businesses and start-ups struggle when it comes to managing the financial aspect of their business. Most of them end up with inaccurate financial reports, erroneous budget projections, and tax compliance penalties. While managers concentrate more on growing their business, they shouldn’t neglect this…
Tips on How to Grow your Business in the New Normal
Small and Medium Enterprises (SMEs) are among the most vulnerable sectors greatly impacted by the COVID-19 pandemic. Like any other business, many SMEs were forced to reduce business operations due to the limited movement of people because of the lockdowns. In a positive light,…
The Comprehensive Tax Reform Program (CTRP) and its Effects on Small and Medium Enterprises (SMEs)
If you have been paying taxes regularly, you may be familiar with the TRAIN law or the Tax Reform for Acceleration and Inclusion Act and a couple of tax amnesty programs, which the Bureau of Internal Revenue (BIR) has implemented since 2018. Speaking of this…
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…
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 Handle BIR Tax Audit
The country’s tax system works on the principle of voluntary compliance, wherein the taxpayer is responsible for determining which taxes to be paid, when to pay them, and how to comply with the reportorial requirements. The government, for its part, adapts a check-and-balance system,…
