Have you ever asked yourself whether it’s silly to buy something you’re eyeing? Here’s another question to help you with that: “Can you afford to pay for it twice?” Yes, I know you only want to buy one, but being able to afford it twice provides you with freedom over it. Owning certain items, especially…
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…
We all at least share one budgeting tip once or heard a smart money suggestion from time to time. But, let’s accept it, regardless of how practical financial advice may sound, some of it ignores the reality that we want to enjoy life. Friends often tell me about times when they were “good” with money,…
Accounting has changed tremendously over the years, especially with the introduction of the internet. However, there are still major differences between modern-day and traditional accountants despite the advancements. Here are some differences between the two, check which one are you: Modern-Day Accountants Traditional Accountants Can work in the office or at home virtually Works in…
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: Illustration 8: A manufacturer purchased capital goods on different occasions as follows: Month of Purchase Amount (Php) 12% Input Tax Useful Life No. of Monthly Amortization Last Month…
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…
