Before concluding 2024, here are the key taxation changes in the Philippines that every business should know before entering 2025. The year 2025 is poised to usher in significant developments in Philippine taxation, which is reflective of the government’s ongoing efforts to streamline tax administration, stimulate economic growth, and promote… Read MoreTaxation in the Philippines: What to Expect in 2025
UPDATE! BIR recently released a new portal to submit your AFS submissions online! Woot! Kudos to you, BIR! Here’s a quick run through of the new AFS eSubmission Portal aka eAFS: How to submit attachments to Annual ITR using eAFS It’s that time of the year! Tax Filing Season! Time… Read MoreSubmitting your Annual ITR – How to and Attachments
Whether you’re a freelancer or a business owner, obtaining a BIR registration certificate is a must for you. Also known as BIR Form 2303 and Certificate of Registration (COR), this type of document gives you the legal rights to operate your business in the Philippines. All professionals licensed by the Philippine… Read MoreBIR Certificate of Registration Guide: What is Form 2303 and Why Do You Need It?
There’s nothing more liberating than becoming a bonafide freelancer or business owner. But with great freedom comes big responsibilities, and one of them is settling your income tax in the Philippines. You might get the feeling that filing taxes may not apply to you anymore since you’re no longer working… Read More3 Good Reasons Why Freelancers and Solopreneurs Need to Pay Income Tax in the Philippines
Freelancing can be a life-changing experience. You get to enjoy cool perks like having control over your income and independence. But when it comes to BIR online filing, you might have lots of questions to ask. Registering your gig with the BIR is an absolute must if you want your career… Read MoreBIR Online Filing Guide: How Filipino Freelancers can Register for Taxes
If you have mixed earnings or a side gig on top of your regular job, you might be wondering how you should file your taxes to bir.gov.ph. Mixed income earners are simply those who receive income from several sources. This includes your employee salary, business earnings, or gross receipts from… Read MoreMixed Income Earner: How to Declare Your Taxes to BIR
TAXES – a word a lot of folks dread, and sometimes would rather set aside. Many people would agree on that; if only it is not that important. Kidding aside, all around social media, tax has been a hot topic. As the registration process keeps on getting more confusing, freelancers and… Read MoreA Comprehensive Guide to BIR Registration for Freelancers and Solopreneurs
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)
What mistakes should be avoided when filing freelance taxes in the Philippines? Presenting incomplete and incorrect data Miscalculating the tax due Not declaring every income earned Missing the deadline Filing taxes as a freelancer in the Philippines can be difficult and confusing. Plus, the introduction of the TRAIN law certainly doesn’t help… Read MoreTax Filing 101: 4 Mistakes You Shouldn’t Make
Contemplating if a Self-employed professional like you should pay taxes? Self-employed professionals as defined by the BIR fall under two categories: (1) “persons who derive their income practicing their profession” like lawyers, and those registered with the Professional Regulation Commission (PRC) such as doctors, dentists, certified public accountants, and others;… Read More4 Great Reasons Why Filing Taxes Will Benefit Your Life (For a Self-Employed Professional)
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