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
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
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
Planning a trip to Japan? The first step to your dream vacation is to get through the visa application process successfully. To help you do just that, here’s a detailed guide on the Japan visa requirements for Philippine passport holders, especially highlighting the needs for self-employed individuals and business owners.… Read MoreNavigating Japan Visa Requirements: Guide for Philippine Passport Holders
Navigating the process of how to get TIN number for employees has been made more straightforward with the Bureau of Internal Revenue’s (BIR) introduction of Revenue Memorandum Order (RMO) 37-2019. This order revamps the policies, guidelines, and procedures related to the registration, updating, and transfer of employee information, including the… Read MoreThe Essential Guide on How to Get TIN Number for Employees
As a professional or business owner, understanding the intricacies of taxes that affect your earnings is crucial. One such tax that often prompts questions is the “professional fees withholding tax.” This withholding tax applies to earnings from professional services, and its management can significantly impact your financial health. Here’s everything… Read MoreNavigating Professional Fees Withholding Tax: A Comprehensive Guide with Taxumo
As April 15th swiftly approaches, a date well-known for the annual trip to the Bureau of Internal Revenue (BIR) looms for many Filipinos. But imagine a scenario where you could bypass the tedious queues, avoid the last-minute rush, and even enjoy some attractive financial benefits. This is the advantage of… Read MoreFiling Your Annual ITR Early: A Smart Move for 2024
Hello, April! April is also one of the busiest months here at the Taxumo Headquarters. And, you probably know the reason why… it’s because everyone’s thinking about their ITR. Everyone’s scrambling and asking us how to prepare, file and pay for their Annual Income Tax. With this, to help… Read MoreHow to File Your Annual ITR (1701A or 1701 or 1700) Using Taxumo
Taking on a new career path as your own boss, whether as a freelancer, licensed professional, or entrepreneur, is thrilling. To ensure your financial affairs start on the right foot, a crucial initial step is to transfer your RDO – moving it from your employer’s RDO to one that reflects… Read MoreUltimate Guide to Transfer RDO in the Philippines