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 filing. Why Do Freelancers Need to Pay Taxes? The […]
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 discuss the fundamental changes in the rules for invoicing requirements […]
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 of the key obligations is to submit a sworn declaration […]
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 last January 5 and was effective last January 22. The […]
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 BIR offices in person and submit paper forms to complete […]
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 business in this vibrant Southeast Asian nation. In this article, […]
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. Who are required to maintain and register their books of […]
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 themselves facing unexpected obstacles along the way. Let’s explore some […]
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 to its Online Registration and Update System (ORUS). Through the […]
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 and more requirements, such as increased capitalization to fulfill. Moreover, […]
