Certified Public Accountant
Withholding Tax in the Philippines Withholding tax is a tax system in the Philippines where the government collects taxes at the source of income. This ensures that taxes are paid progressively throughout the year rather than at the end of the fiscal year. It applies to individuals, businesses, and other entities. Withholding tax is not Read More …
In the business lifecycle, recurring accounting and taxation events are critical for compliance and financial health. Here’s a summary of key recurring events: 1. Daily/Weekly Events 2. Monthly Events 3. Quarterly Events 4. Annual Events 5. Occasional Events
Upon the Effectivity of these Revenue Regulations. INVOICE will be the primary documents for both Trading and Service type of businesses. As Illustrated above: 1.) There’s no effect on Trading businesses on the invoicing requirements. Sales Invoice as primary documents and collection receipt as secondary documents. 2.) On Service businesses, Official Receipts are no longer Read More …
Taxation in the Philippines is governed by the Bureau of Internal Revenue (BIR) and is based on the National Internal Revenue Code. Here’s an overview of key aspects of taxation in the Philippines: It’s important for individuals and businesses in the Philippines to stay updated on tax regulations and requirements, as tax laws may undergo Read More …
Ah, the impending finale of the fiscal year! Here are some friendly reminders as you approach the tax year-end: BIR Compliance Requirements: Annual Registration Fee – BIR form No. 0605 , Deadline January 31 Submission of Inventory List – Deadline January 30 Payment/Remittance Income Tax Return For Individual For Non-Individual
Ah, the joy of balancing the books! As the year comes to a close, here are a few friendly reminders for your year-end accounting: Remember, a little diligence now can save you headaches down the road.
Accounting cycle are the steps and procedures in completing the company’s bookkeeping, analysis, interpreting and reporting of all business transactions.
Per Sec. 236 (i) of the Tax Code, Any person, whether natural or juridical, required under the authority of the Internal Revenue Code to make, render or file a return, statement or other documents, shall be supplied with or assigned a Taxpayer Identification Number (TIN) to be indicated in the return, statement or document to Read More …
So, what is Business Name? This refers to any name that you will use in connection with your business other than your true name. Any Filipino who is at least 18 years of age can register a business name. Business name registration goes online thru https://bnrs.dti.gov.ph/ you can find the step by step procedure in Read More …
1.) Register your business name at DTI. If you are a professional, you need not register with DTI. PRC ID is enough unless you will use trade name other than your name. 2.) Get Barangay Clearance where your business will be located. 3.) Get Mayor’s Permit at City Business Permit and Licensing Office where your Read More …