As a business owner, I’m pretty sure by now you’re already familiar with what Books of Accounts are. But if you don’t know what they are yet, it’s a group of books that declare and record all of your transactions in your business. These books typically include a General Ledger,… Read MoreORUS Guide on How to Register Your Books of Account
BIR Form 1702Q — What is this? Firstly, know that there are different classifications of Income Taxes here in the Philippines, and the Income Tax form that you need to file varies on your Taxpayer type whether if you’re a Non-VAT or VAT filer — this step is very crucial… Read MoreWhat is BIR Form 1702Q – Quarterly Income Tax?
Taxumo understands the importance of being precise and complete when filling out financial documents, especially when it involves Value Added Tax (VAT) in the Philippines. We are always asked by online sellers, professionals, MSMEs, etc. on how to write on a VAT Receipt. This guide will help you on how… Read MoreGuide on How to Write on your VAT Receipts
Have you ever taken a look on your COR and wonder, what is this 1701Q? How does it work and what does it declare? To simply put it – BIR Form 1701Q, or the Quarterly Income Tax Return is filed by any taxpayers who are earning income within the Philippines.… Read MoreHow to File 1701Q Online with Taxumo
We’ve all been there. Life gets busy, and sometimes important deadlines slip our minds. If you’re reading this, there’s a chance you missed the tax filing deadline, and you might be feeling a little stressed or overwhelmed. But don’t worry, you’re not alone! And the good news is, it’s not… Read MoreHow to File Late Taxes Online in a Few Minutes?
We all know how our government loves abbreviations… BIR, DTI, LGU, etc. One of the abbreviations that we need to know about is RDO, and this is the BIR RDO. Every taxpayer in the Philippines is assigned to a specific Revenue District Office (RDO), an essential arm of the Bureau… Read MoreYour Guide to Navigating BIR RDO for Tax Compliance
Imagine a simplified tax system for specific transactions in the Philippines – that’s the essence of Percentage Tax (PT). It applies a flat rate of 3% directly on your gross sales or receipts, instead of the usual income tax rates. Understanding who needs to file this type of tax can… Read MorePercentage Tax in the Philippines: What It Is and Who Files It
As a business owner, you’re definitely familiar with the signage that you hang in your business premise. But have you heard of the big change that’s happened? If not, don’t worry, we’ve got you covered! You may know that BIR has issued RMO No. 43-2022 stating that a new format receipt notice… Read MoreBIR extends deadline for NIRI (Notice to Issue Receipt/Invoice Sign)
As responsible Filipino taxpayers, it’s important for us to understand what to do once the tax season comes to an end. Completing certain tasks after filing your tax returns can help ensure compliance and maintain a smooth financial journey. In this blog, we will provide you with a post-tax season… Read MoreTax Season is Over, Now What? A Post-Tax Season Checklist for Filipino Taxpayers
If you’re a good employer, you’ve probably wondered a few things, such as: how can I keep being a good employer? Paying your employees fair wages, for one! But also, you need to think about employee-related tax payments. If by now you still haven’t quite figured out everything, don’t worry:… Read More3 Things Employers Need to Do for Year-End Tax Filing Compliance