Deciding to buy something can be a tough purchasing decision. You may have a budget, but you also want to get the most value out of your money. This is why you have needs vs wants when it comes to purchasing items. Understanding these categories will help you make better decisions about what you should…
Over the years, the retail industry has grown immensely as it continues to adapt and embrace digital transformation. The increasing popularity of e-commerce, or online shopping these days, makes day-to-day operations even busier than usual, especially when it comes to keeping a closer eye on business financial information. While it’s crucial for any type of…
Money is a fascinating and complex topic that has been viewed in various ways throughout history. While some consider it the ultimate goal in life, for others, it is a means to an end. Whatever your perspective, it is essential to remember that money can be a powerful tool to help you achieve your life…
Accounting has always been crucial to the operation of organizations, from small start-ups to publicly traded global corporations. Accountants and auditors, they are acutely aware of how crucial it is to continue providing their services to those firms and to their clients. In the Philippines, the role of accountants has evolved over time, from traditional…
The Bureau of Internal Revenue (BIR) has recently issued Revenue Regulations (RR) No. 21-2021 which amended certain provisions including RR No. 13-2018, under page 15 of 20: Overview of the TRAIN Law and its impact on the Philippine tax system The Tax Reform for Acceleration and Inclusion (TRAIN) Law is a tax reform program implemented…
How can I request a transfer of RDO? To transfer/update registration from one RDO to another follow these steps: File a duly accomplished BIR Form 1905 (Application for Registration Update) in 2 original copies where your TIN is currently registered. Indicate the new RDO where you are requesting to be transferred. Bring the BIR Form…
As another year draws to a close, we are once again reminded that we have to prepare our financial statements, inventory listing, and other reports such as tax returns and the required attachments therein to start the new year without mishaps. For guidance, below is a list of tax-related information one should know and adhere…
On November 19, 2021, the Bureau of Internal Revenue released the Revenue Memorandum Circular No. 117- 2021. This Circular was issued to clarify the provisions of Revenue Regulations (RR) No. 16-2021 that amended the provisions of RR No. 2-2015. This previously prescribed the submission of soft copies, instead of hard copies of BIR Form No.…
Author: Sophia Lorraine Morato (Accounting Intern) And it’s a wrap! JuanTax successfully hosted its 2nd Annual Online Convention last October 29, 2021, with over 1,300 attendees from various parts of the Philippines. With the theme of EMERGING FROM CRISIS: Finding Purpose with Grit, this year’s convention was filled with insightful speakers, an engaging panel discussion,…
The Bureau of Internal Revenue (BIR) has issued a memorandum on the included forms which are available offline with the release of package version 7.9.2. The forms that will be included in the new Offline eBIR Package are 2018 versions of the following: 2552 Percentage tax return for transactions involving shares of stock listed and…
