Starting a business (sole proprietorship) in the Philippines involves several critical steps, one of which is registering your business name with the Department of Trade and Industry (DTI). But what happens when you need to wind down or change directions? Canceling your DTI registration becomes a necessary part of the… Read MoreProcess of Canceling DTI Registration
Would you agree to have taxes deducted from your earnings without any proof? Certainly not. But what exactly is BIR Form 2307, or the Certificate of Creditable Tax Withheld at Source? Surprisingly, many professionals and businesses are unaware of the critical role Form 2307 plays in their tax dealings. Professionals… Read MoreBIR Form 2307: The Key to Proper Tax Credit for Filipino Professionals & Businesses
For businesses and professionals in the Philippines navigating their tax responsibilities, maintaining accurate and compliant books of accounts is non-negotiable. Opting for Loose-Leaf Books of Accounts offers flexibility and ease, especially for those who may not prefer the traditional written and bound booklets. The BIR’s Online Registration and Update System… Read MoreA Guide to Loose-Leaf Books of Accounts Application & Submission via ORUS
The Value Added Tax (VAT) system plays a pivotal role in the Philippines’ tax framework, affecting businesses and individual taxpayers alike. With the Tax Reform for Acceleration and Inclusion (TRAIN) law’s enactment, understanding the nuances of the Philippines Value Added Tax, particularly the VAT threshold and taxpayer status, has become… Read MoreNavigating the Philippines’ Value Added Tax Landscape
Starting a new venture comes with the excitement of bringing fresh ideas to market and the responsibility of contributing to the nation’s economy. One of the pivotal roles you will play as a business owner is in tax compliance, overseen by the Bureau of Internal Revenue (BIR). Here’s why fulfilling… Read MoreEmbracing Tax Compliance: Why Taxes Matter?
In today’s digital era, the question “Do we need to register an online business?” frequently arises among aspiring entrepreneurs ready to capitalize on the vast opportunities of the digital marketplace. Operating an online store in the Philippines comes with its set of regulatory and tax obligations, similar to traditional businesses.… Read MoreDo We Need to Register an Online Business?
The digital marketplace is booming, and with it, the number of online sellers looking to expand their businesses. However, growth often requires capital (especially during sale season like 1/1, 2/2, 3/3, etc.) and securing a business loan can be a critical step in scaling your online venture. This article is… Read MoreBusiness Loans for Online Sellers
Alright, let’s dive straight into the world of “annual income tax” and that moment we all secretly hope for – getting a “tax refund.” Ever wonder when the stars align and you actually get money back from the taxman? Well, it’s all about the dance between what’s been taken from… Read MoreShould You Get a Tax Refund?
Registering with the Online Registration and Update System (ORUS) at the Bureau of Internal Revenue (BIR) in the Philippines is a pivotal step for taxpayers aiming to manage their tax obligations online. This guide will walk you through the process of how to register at ORUS.BIR.GOV.PH, ensuring a smooth and… Read MoreHow to Register at ORUS.BIR.GOV.PH: A Step-by-Step Guide
In the digital era, the Philippine Bureau of Internal Revenue (BIR) has taken significant strides towards simplifying tax compliance and administration for taxpayers across the country. The introduction of the Online Registration and Update System (ORUS), accessible through orus.bir.gov.ph, marks a pivotal advancement in the BIR’s digital transformation efforts. This… Read MoreNavigating Tax Compliance with Ease: A Closer Look at ORUS BIR