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nonvat Archives - Taxumo

Tax Reform TRAIN Changing from VAT to Non-VAT

Tax Reform: How to Change from VAT to Non-VAT

By | Tax reform, TRAIN | 55 Comments

The Tax Reform for Acceleration and Inclusion, more popularly known as TRAIN, has amended the tax code to increase the VAT Threshold from P1.919 Million to P3.0 Million. If you are a registered VAT taxpayer earning less than P3.0 Million, you may now opt to be non-vat instead. This is great for services and high margin businesses as this will most likely result in tax savings.

Find out how to change your tax type to Non-VAT here…

A Primer on the TRAIN Tax Reform Law

TRAIN Law Primer or So what do I file now?

By | Tax reform, TRAIN | 146 Comments

The Income Tax Reform Law (Tax Reform for Acceleration and Inclusion of TRAIN) (RA No. 10963 + veto message) changes a lot of things for the DIY taxpayer. Aside from the forms themselves, the tax reform law also changes the frequency, the processes, and the formula & tax tables that we’ve all gotten used to. As a freelancer, professional, or self-employed individual, this can be a confusing change. This article aims to make the tax TRAIN easier to understand.

Read more about the biggest changes from TRAIN…