As a freelancer or business owner, filing your taxes is one of the most important things that you need to accomplish. And in this digital era, you can easily accomplish this with the BIR online registration via eServices. How do I file taxes online? If you want to file taxes online, you… Read More »BIR Online Registration and Tax Filing Under TRAIN
How did the Train Law improve VAT? Some products have been recently exempted from VAT. 54 out of 61 special laws with non-essential VAT exemptions have been repealed. The government is stricter with enterprises filing for VAT zero rating. Changes in the VAT refund system. The Philippines has one… Read More »How VAT is Improved Because of the TRAIN Law
Filipino doctors have to be aware of the changes implemented by the TRAIN Law this 2018. These changes involved new exemptions and rate recalculations that can thankfully be done with a tax calculator in the Philippines. Let’s discuss below some of the changes that will most likely affect your profession… Read More »What Every Doctor Should Know About the Train Law
Throughout the years, changes have been implemented to the country’s tax systems to ensure fairness and efficiency. In addition to updating guidelines for tax filing, the Bureau of International Revenue (BIR) has introduced new forms as well. Today, we’re highlighting one of the latest forms introduced by the BIR: Form… Read More »All You Need to Know About BIR Form 0619E (Updated 2022)
What can you expect from the Train Law Package 2? Decrease corporate income tax Regulate fiscal incentives Attract better and high-quality opportunities It hasn’t been that long since the first package of the current administration’s Comprehensive Tax Reform Program (CTRP) was passed into law. The Tax Reform for Acceleration… Read More »TRABAHO: Train Law Package 2 and Its Expected Effects
On April 25, on the deadline of filing the Quarterly Percentage Tax Form, the BIR released RMC 26-2018 which has the new 2551Q form and the submission procedures for manual, eBIRForms, and eFPS. The new 2551Q Form now has a field where you can indicate whether you’re opting for the… Read More »Brand New 2551Q Form (Quarterly Percentage Tax) with 8% Opt In
Whether you’re a freelancer or a new entrepreneur flying solo, sooner or later as your business grows, you may want to consider hiring employees. And when you do hire your first employee, you would have to start thinking about payroll, and payroll tax rates.
For both aspiring and existing business owners, 2018 comes with big changes specifically with implementation for payroll taxes. When it comes to handling payroll, it’s important to understand the current payroll tax rates. Not all employees under an organization have the same salaries and there are those who have different tax brackets as well. Meaning, each individual can have varying tax rates depending on their job position and company.