Revenue Regulations No. 21-2020

Due to COVID-19 the Bureau of Internal Revenue (BIR) is reducing the number of audit investigations by encouraging an increase in voluntary tax compliance. This is to limit taxpayer contact and apply related protocols and social distancing measures while, at the same time, maximizing revenue collection with the least administrative costs. Revenue Regulations (RR) No.…

RMC No. 57-2020: Streamlining of Business Registration Requirements and Revised Checklist of Documentary Requirements 

BIR revised Checklist of Documentary Requirements for Business Registration BIR removes mayor’s permit as mandatory document Summary: Checklist of Documentary Requirements  Removal of Mayor’s Permit as a mandatory requirement The Bureau of Internal Revenue has directed online sellers to register their business activities and settle their taxes not later than July 31,2020. Those business owners…

RMC 60-2020: Obligations of Persons Conducting Business Transactions Through Any Forms of Electronic Media, and Notice to Unregistered Businesses

BIR Guidelines for Business Registration for Online Sellers How to register your online business with the BIR Summary: Basic Registration Guidelines Individuals Non-Individuals Certificate of Registration issuance  The Bureau of Internal Revenue (BIR) as of June 01, 2020, gave Revenue Memorandum Circular No. 60-2020 (RMC No. 60-2020), which is effective immediately. The subject of this…

Business Registration for Non-Individuals

A guide on how to register a business for Non-Individuals What makes you a Non-Individual Taxpayer? Corporations and partnerships, no matter how created or organized. Domestic corporations receiving income from sources within and outside the Philippines Foreign corporations receiving income from sources within the Philippines Estates and trusts engaged in trade or business Basic Registration…

Business Registration for Individuals

A guide on how to register a business for Individuals What makes you an Individual Taxpayer? Resident citizens receiving income from sources within or outside the Philippines Employees deriving purely compensation income from two or more employers, concurrently or successively at any time during the taxable year Employees deriving purely compensation income regardless of the…