We all want to start the year well, so to kick off 2025 to a good start, business owners, employees, and freelancers must stay updated on the latest BIR tax table and government contributions. These updates will help you understand how to plan better this year to keep your finances… Read MoreBIR Tax Table and (SSS, Philhealth, & Pag-ibig) Contribution Updates for 2025
Before concluding 2024, here are the key taxation changes in the Philippines that every business should know before entering 2025. The year 2025 is poised to usher in significant developments in Philippine taxation, which is reflective of the government’s ongoing efforts to streamline tax administration, stimulate economic growth, and promote… Read MoreTaxation in the Philippines: What to Expect in 2025
It’s time to fine-tune your business strategies and set yourself up for financial success as the new year approaches. From saving on taxes to strategizing better financial habits, these practical steps will help you make smarter money moves that will surely keep your business successful. Plan for Taxes to Save… Read MoreNew Year, New Success: Prepare Your Business for 2025
There’s DTI Registration, BIR Registration, and there’s LGU Registration—which you need to renew yearly for your business. But what exactly does a Mayor’s Permit do, and why is it important to renew it every year? Let’s break it down. Don’t have time to get your Mayor’s Permit? Taxumo can help… Read MoreMayor’s Permit for Businesses: Why You Need to Renew It Yearly
With 2024 coming to a close, business owners are wrapping up sales and year-end campaigns. But as the year comes to a close, it’s also time to start preparing for the Requirements for Renewal of Business Permit for next year. To keep your business running smoothly, here’s a simple checklist… Read MoreRequirements for Renewal of Business Permit – What to Prepare?
Filing quarterly income tax can feel overwhelming, but it’s an important step for staying on top of your tax game. Understanding how to compute quarterly income tax can help you avoid penalties and make the most of any deductions or credits. In this guide, we’ll breakdown the basic steps for… Read MoreHow to Compute Quarterly Income Tax – For Filipino Taxpayers
Have you ever wondered what your next step should be after registering with the DTI and LGU? What BIR requirements for new business do you need to prepare to fully legalize its operations? In this blog, we’ll dive deeper into the steps to make your business legal and compliant with… Read MoreBIR Requirements for New Business – What Do I Need to Prepare?
BIR has released RMC 87-2024 to clarify some questions regarding Filing and Paying of Taxes under the system of Ease of Paying Taxes. Let’s take a look at the various methods available for taxpayers to file their tax returns, depending on their enrollment status and the availability of electronic platforms.… Read MoreFiling and Paying Taxes on eFPS Under Ease of Paying Taxes (RMC No. 87-2024)
Good news Online Sellers! According to RMC 79-2024, BIR is extending the deadlines for Online Sellers to register their business through BIR until October 12, 2024. With the deadline extension, here’s what you need to know to prepare for operating your business legitimately. Business Registration It’s important to understand that… Read MoreOnline Sellers Get Extra Time to Register for Taxes as BIR Extends Deadline (RMC 79-2024)
BIR released a new memorandum regarding the invoice compliance for VAT and Non-VAT taxpayers. Let’s take a look on some of the details on how to issue your invoice if you’re a VAT of Non-VAT business. Invoice Compliance and Requirements According to RMC 77-2024, businesses are now required to issue… Read MoreClarifying Invoice Requirements for VAT and Non-VAT (RMC 77-2024)