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 More »Submitting your Annual ITR – how to and attachments
On January 1, 2018, the Tax Reform for Acceleration and Inclusion or TRAIN was implemented in the Philippines. This tax reform program aims to improve the tax system and make it simpler, fairer, and more efficient. As a dutiful taxpayer, it’s important to be aware of TRAIN, especially of the new… Read More »What You Should Know about TRAIN
It wasn’t all sunshine and rainbows for Julian Cañita when he decided to live abroad with his wife. Struggling to find a stable job then, he had to step up his game and hone more skills to succeed in the demands of tomorrow. That was when he discovered digital marketing.… Read More »Taxumo Heroes: Julian on Self-Growth and Helping Other Businesses Grow
What can you expect from the Train Law Package 2? Decrease corporate income tax Regulate fiscal incentives Attract better and high-quality opportunities It hasn’t been that long since the first package of the current administration’s Comprehensive Tax Reform Program (CTRP) was passed into law. The Tax Reform for Acceleration… Read More »TRABAHO: Train Law Package 2 and Its Expected Effects
On April 25, on the deadline of filing the Quarterly Percentage Tax Form, the BIR released RMC 26-2018 which has the new 2551Q form and the submission procedures for manual, eBIRForms, and eFPS. The new 2551Q Form now has a field where you can indicate whether you’re opting for the… Read More »Brand New 2551Q Form (Quarterly Percentage Tax) with 8% Opt In
Income Tax for 2018 in the Philippines has been an interesting space lately because of the TRAIN Law (aka R.A. 10963). For self-employed individuals, it has been of particular interest because they now have an option to avail of a simpler 8% Income Tax Rate Option. The BIR released Revenue… Read More »How to Avail of the 8% Income Tax Rate on Gross Sales/Receipts
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… Read More »Tax Reform: How to Change from VAT to Non-VAT
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… Read More »TRAIN Law Primer or So what do I file now?
Taxumo turns Tax Filing from what was previously a painful scary chore into a pleasant & quick online experience! Aligned with that promise, we are releasing our new UI. Built from the ground up with intuitiveness and ease in mind, filing your taxes are even easier than ever before. What… Read More »Taxumo Makes Tax Filing a Quick & Easy Online Experience
The Tax Reform for Acceleration and Inclusion (more popularly known as TRAIN, less popularly known as RA No. 10963) has been signed. This has opened up more options for Individuals, SME’s, Professionals, and Freelancers when it comes to paying taxes. TRAIN’s New Tax Option In particular, TRAIN gives us a… Read More »TRAIN’s New 8% Tax – Does it really save you money?