Zia Venus

Online Sellers Get Extra Time to Register for Taxes as BIR Extends Deadline (RMC 79-2024)

Zia Venus
August 2, 2024August 16, 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)

Clarifying Invoice Requirements for VAT and Non-VAT (RMC 77-2024)

Zia Venus
August 2, 2024December 26, 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)

What is Sales Tax?

Zia Venus
July 23, 2024November 20, 2024

As a Business Owner it’s crucial to understand that there are various type of taxes that you need to pay within the calendar year. This can include Income Tax, Sales Tax, Withholding Tax and more. But first we’ll focus on discussing what Sales Tax is and how it functions in… Read MoreWhat is Sales Tax?

ORUS Guide on How to Register Your Books of Account

Zia Venus
July 22, 2024January 2, 2025

As a business owner, I’m pretty sure by now you’re already familiar with what Books of Accounts are. But if you don’t know what they are yet, it’s a group of books that declare and record all of your transactions in your business. These books typically include a General Ledger,… Read MoreORUS Guide on How to Register Your Books of Account

New BIR Ruling on Issuance of Official Receipts (RR 11-2024)

Zia Venus
June 14, 2024July 10, 2024
8 Comments

Hey there Mautax! You’ve probably heard of the new “Ease of Paying Taxes” ruling again about the Official Receipts but if not then you’re in the right place. Here’s how you can stay updated on the new BIR Ruling on Issuance of Official Receipts and ensure compliance with the latest… Read MoreNew BIR Ruling on Issuance of Official Receipts (RR 11-2024)

Inventory List of Unused Receipts - How To Issue This to BIR

Inventory List of Unused Official Receipts – How To Issue This to BIR

Zia Venus
May 24, 2024July 30, 2024
27 Comments

Inventory List of Unused Official Receipts, How do I issue this to BIR? Have you heard of this new requirement from BIR in relation to the RR 7-2024? If not, let us break it down for you to easily understand what to do with them. But first what is the… Read MoreInventory List of Unused Official Receipts – How To Issue This to BIR

What is BIR Form 1702Q – Quarterly Income Tax?

Zia Venus
May 16, 2024January 2, 2025
2 Comments

BIR Form 1702Q — What is this? Firstly, know that there are different classifications of Income Taxes here in the Philippines, and the Income Tax form that you need to file varies on your Taxpayer type whether if you’re a Non-VAT or VAT filer — this step is very crucial… Read MoreWhat is BIR Form 1702Q – Quarterly Income Tax?

BIR Taxpayer Classification Under the New Revenue Regulation No. 8-2024

Zia Venus
May 11, 2024January 2, 2025
1 Comment

The Bureau of Internal Revenue (BIR) of the Philippines has recently enacted Revenue Regulation No. 8-2024, marking a significant shift in the BIR taxpayer classification system. This regulation, effective from March 22, 2024, aligns with the provisions of Section 21(b) of the National Internal Revenue Code of 1997, as amended… Read MoreBIR Taxpayer Classification Under the New Revenue Regulation No. 8-2024

Guide on How to Write on your VAT Receipts

Zia Venus
May 10, 2024January 2, 2025

Taxumo understands the importance of being precise and complete when filling out financial documents, especially when it involves Value Added Tax (VAT) in the Philippines. We are always asked by online sellers, professionals, MSMEs, etc. on how to write on a VAT Receipt. This guide will help you on how… Read MoreGuide on How to Write on your VAT Receipts

Frequently Asked Questions on RR 7-2024

Zia Venus
May 9, 2024November 20, 2024
149 Comments

We recently published an article about the BIR new rules on receipts. For those who are still seeking for clarity, here are the top questions that we received from different customers and taxpayers with regard to RR 7-2024. 1. What are the specific changes introduced by BIR RR No. 7-2024… Read MoreFrequently Asked Questions on RR 7-2024

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