There is a new rule under the “Ease of Paying Taxes Act” to address VAT on uncollected receivables. This legislation allows businesses to claim back the VAT they paid on sales where they haven’t received payment. Below is a detailed breakdown of what this means and how it works. This… Read MoreWhat is VAT Rules for Uncollected Receivables? (RMC 65-2024)
Remember that trademark scene from Jurassic Park, the one with the glass of water moving with the vibrations because something big is coming? Then better hold on to your glasses of water for this update! Well it is not that big, nor dangerous. More Barney than Jurassic Park, get it?… Read MoreNavigating BIR Rules on Receipts: Transitioning to Invoices
Filing taxes and managing forms like the 2316 can often seem like a daunting task. Recognizing this challenge, Taxumo has innovated a simpler solution for you to effortlessly generate your Form 2316. Whether you’re an individual taxpayer or a business owner, this new feature streamlines the process, ensuring that tax… Read MoreCreate a 2316 Form: Made Easy with Taxumo’s New Feature
Navigating the complexities of payroll and tax compliance is a significant challenge for businesses. However, Taxumo’s Compensation Tab revolutionizes this process by offering a simplified solution to manage salaries and ensure adherence to the withholding tax on compensation regulations of the Bureau of Internal Revenue (BIR) with ease and efficiency.… Read MorePayroll and Tax Compliance streamlined with Taxumo’s Compensation Tab
In the realm of tax compliance in the Philippines, BIR Form 2551Q, known as the Quarterly Percentage Tax Return, plays a crucial role for self-employed individuals, professionals, and businesses. This guide delves into what BIR Form 2551Q entails, who needs to file it, and how to accurately compute and submit… Read MoreUnderstanding and Filing BIR Form 2551Q: A Guide for Filipino Taxpayers
Did you miss the Taxumo ITR deadline? Don’t worry, you can still file your Annual Income Tax. You can opt to use our Prepare Only feature. It’s still easy to file using Taxumo. What’s great about using Taxumo is that submitting your attachments via the Electronic AFS submission portal is… Read MoreMissed the Taxumo ITR Deadline?
In today’s financial landscape, the question “What does having good credit mean?” is more relevant than ever. Good credit is not just a number on a report; it’s a reflection of your financial health and reliability as a borrower. This article explores why it’s important to have good credit, the… Read MoreWhat Does Having Good Credit Mean for Your Financial Future?
Some of Taxumo’s users receive their income via Paypal. To use those funds, they need to transfer these funds from Paypal to a digital app like Gcash or Maya or to their bank accounts. In today’s digital age, transferring funds between different platforms has become a common necessity for freelancers,… Read MoreHow to Transfer Money from PayPal to GCash
Madalas na tanong ng mga bagong business owners, “Totoo ba na pag may DTI permit, masisilip agad ako ng BIR?” Upang bigyang linaw, atin pong talakayin ang isang kwento mula sa Davao na maaaring magbigay aral sa bawat isa. Isang araw, isang business owner ng ukay-ukay ang nagulat nang makatanggap… Read More“Masisilip Ba Ako ng BIR?” – Kahalagahan ng Pagrerehistro sa BIR
Capital gain tax stands as a critical component in the tax architecture of the Philippines, primarily affecting those who profit from the sale of certain assets. For savvy taxpayers looking to navigate their fiscal obligations smartly, grasping the nuances of capital gain tax is indispensable. This guide seeks to unravel… Read MoreNavigating Capital Gain Tax in the Philippines