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…
BIR Launches TRRA Portal for Convenient Taxpayer Registration
The Bureau of Internal Revenue (BIR) recently announced the launch of the Taxpayer Registration-Related Applications (TRRA) Portal. This new online system aims to simplify and expedite the process of submitting applications and registration requirements to the BIR. In the past, taxpayers had to visit…
New Policies and Guidelines on Late/ Out-of-District Filing of Tax Return (RR 6-2023)
The government is committed to tackling tax fraud, tax evasion, and other violations of the National Revenue Code (NIRC). New regulations have been enacted to support these objectives and assist the Bureau of Internal Revenue in enforcing the Act. Revenue Regulation (RR) 6-2023 is issued…
BIR ePayment Facilities and 2023 Updated List of ePayment Channels
Tired of those long lines at the Revenue District Office or the Authorized Agent Banks (AABs), especially when you’d rather be doing more important things in the office? Well, you’re not alone. Fortunately, there’s a more convenient way to settle your taxes as we now…
Understanding the Latest e-Invoicing System Accreditation Procedures
In the fast-changing world of business and technology, staying compliant with tax regulations is important. Recently, the Bureau of Internal Revenue (BIR) in the Philippines issued Memorandum Order (RMO) No. 24-2023, a game-changer in the accreditation process for sales machines and software used to generate…
“Ask for Receipt” Notice is valid until June 30, 2023
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…
Filing Taxes at Your Fingertips: A Comprehensive Tutorial for Submitting Your Tax Return Online
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…
New Percentage Tax Rate Starting July 2023
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%…
Recent Posts
- How to Process the Sworn Declaration Required by BIR for Electronic Marketplace Sellers
- Understanding Tax Compliance for e-Marketplace Businesses
- Who Needs to Submit GIS to the SEC?
- Understanding these Financial Ratios for Business Decision-Making Purposes
- What you Should Know about the Ease of Paying Taxes Act