New Features and Functionalities of the Online Registration and Update System (ORUS)
The Bureau of Internal Revenue (BIR) has made a significant leap towards simplifying tax compliance in the Philippines. With the release of Revenue Memorandum Circular (RMC) No. 121-2023, the BIR introduced enhancements to the Online Registration and Update System (ORUS), aiming to streamline registration processes…
A Comprehensive Guide to Taxation for Freelancers in the Philippines
As a freelancer in the Philippines, managing taxes might seem daunting and confusing. With many freelancers now making their mark in digital fields, understanding tax basics is more important than ever. Let’s break down everything you need to know about taxes – from registration to…
How to Avoid Common Tax Mistakes in 2024
Tax compliance can be a tricky maze to navigate, especially with changing regulations and deadlines. Many Filipinos, whether individual taxpayers or businesses, fall into the trap of making mistakes that can lead to penalties or legal trouble. In 2024, the Bureau of Internal Revenue (BIR)…
Tax Deductions and Benefits Often Overlooked by Filipino Taxpayers
With ever-changing tax laws and requirements, not many Filipino taxpayers are able to handle their tax compliance effectively. Most are aware of their basic tax obligations but many miss out on various deductions and benefits that could significantly reduce their tax liability. Understanding and taking…
What is the Difference between National and Local Taxes in the Philippines?
Navigating and understanding taxes in the Philippines can be a bit of a maze. With the ever-changing tax laws and the different government entities imposing them, we can’t help but get confused sometimes. Today, we’re going to discuss the main difference between national and local…
Tax Penalties in the Philippines and Ways to Avoid Them
If you are a business owner, it is beneficial to have the basic understanding of the tax penalties that may be imposed on you for non-compliance with tax laws and regulations. The penalties can add up quickly, leaving you with a big tax bill that…
Invoicing requirements and Registration Procedures in 2024
The Bureau of Internal Revenue (BIR) issued a series of Revenue Regulations (RR) to implement Republic Act No. 11976, otherwise known as the Ease of Paying Taxes Act, which aimed to make it easier for taxpayers to comply with tax regulations. For now, let’s…
How to Process the Sworn Declaration Required by BIR for Electronic Marketplace Sellers
Are you selling goods or services through online platforms like Lazada, Shopee, Facebook Marketplace, or other digital marketplaces in the Philippines? If so, you must comply with the tax requirements established by the Bureau of Internal Revenue (BIR) under the provisions of RR 16-2023. One…
What you Should Know about the Ease of Paying Taxes Act
Tax compliance can be quite a challenge for both individuals and businesses. The process is often difficult due to complex forms, long queues at RDOs and confusing regulations. Gladly, Republic Act No. (RA) 11976 or the Ease of Paying Taxes Act (EOPT) signed by President…
Understanding the Philippine Tax Landscape for Foreign Entrepreneurs
The Philippines offers an attractive environment for foreign entrepreneurs who want to set up businesses or invest in the country. With its growing economy, young population, and business-friendly policies, the Philippines provides tremendous opportunities across sectors. However, navigating the country’s complex tax regime can be…
