Tax Filing for Doctors For Filipino doctors, understanding the nuances of the TRAIN Law implemented in 2018 is crucial, as it has introduced several significant adjustments to the tax landscape. This law aims to modify personal income tax rates among other tax-related changes, directly impacting medical professionals. With Taxumo’s tax… Read MoreWhat Every Doctor Should Know About the Train Law
How can you organize your business taxes in the Philippines? Go paperless Compile your receipts and invoices Set up a bank account for paying taxes Keep track of all your payment dates Many Filipino freelancers and entrepreneurs often find it difficult to organize their business taxes in the Philippines.… Read MoreHow to Be Organized with Your Business Taxes in the Philippines
Seven out of 10 businesses fail within 10 years. Sounds alarming, right? The statistic strongly resonates with Asian startups, especially in Singapore, Malaysia, and the Philippines where failure is a major cultural taboo. A CB Insights analysis found that the top reason why businesses fail (according to 42% of startup… Read MoreA 7-Step Guide on How to Validate Your Business Idea
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 MoreAll You Need to Know About BIR Form 0619E (Updated 2022)
Spend more quality time with your loved ones by letting Taxumo do the dreading tax filing procedure for you. Want to know about Taxumo and how it can ease your tax worries? Keep reading to know more about its benefits. We’ve often talked about the difficulties of filing taxes. The… Read MoreHow Taxumo Can Help Medical Professionals File Taxes
No need to worry as a confused, medical practitioner. Our brief yet comprehensive guide will walk you through the most crucial things you need to take note of, as you establish your own medical practice. To find out how, keep reading. What are some important things to note when starting… Read MoreThings to Note When Starting a Medical Practice in the Philippines
What are the different kinds of withholding tax in the Philippines? Withholding tax on compensation Expanded withholding tax Final withholding tax Many Filipinos receive huge help from tax calculators in the Philippines. These tools allow them to correctly compute the taxes they owe the government. But only a few people… Read MoreGain an Understanding of the Different Withholding Taxes
What are the different business structures that can affect your tax computations in the Philippines? Sole proprietorship Partnership Corporation Capital, location, and product are some of the things you have to consider when starting your own business. Each of them has the capacity to affect your tax computations in the… Read MoreUnique Legal Structures and Tax Computations in the Philippines
What to Know About the CREATE Act (formerly known as the proposed TRABAHO/TRAIN Law)? Decrease corporate income tax Regulate fiscal incentives Attract better and high-quality opportunities Since the first package of the previous administration’s Comprehensive Tax Reform Program (CTRP) was passed into law. The Tax Reform for Acceleration and Inclusion… Read MoreCREATE Act (Formerly TRABAHO/TRAIN Law Package 2)
In the freelancing world, the BIR Form 2307 is a common sight. It is one of the most important forms that a freelancer will encounter since they are required to attach it with their 1701 or 1701Q form. One of the many reasons why this form is needed is because… Read MoreAll the Basic Stuff You Need to Know About Your BIR Tax Form 2307
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