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 MoreBrand New 2551Q BIR Form (Quarterly Percentage Tax) with 8% Opt In
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 MoreBIR Online Registration and Tax Filing Under TRAIN
How did the Train Law improve VAT? The Philippines has one of the highest VAT rates in the world and it is definitely a burden for a lot of enterprises. Recently, the government made revisions to it through TRAIN Law to make it less painful for them. If you’ve recently… Read MoreHow VAT is Improved Because of the TRAIN Law
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
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)
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)
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.
Read MoreWhat Are The Different Payroll Tax Rates to be Aware of This 2018
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