Minimize Cost in Accomplishing Your Payment Form 0605 for BIR Annual Registration As the year ends, accountants are wrapping up their tax compliance for 2019 while gearing up for 2020. And this means taking care of the annual BIR registration fee of 500 PHP using BIR’s Payment Form 0605. This is a yearly renewal requirement…
Commonly referred to as the Certificate of Creditable Tax Withheld At Source, the BIR Form 2307 presents the income that’s subjected to Expanded Withholding Tax (EWT) paid by the withholding agent. In the accounting books of the taxpayer, it is included under the assets section, as Form 2307 is reflected as income tax pre-payments. The…
If you are a self-employed individual or a freelancer, you should know what Income Tax Return (ITR) form you should use. Apart from being vital to know the right form that will fit your needs, it also saves you time from filling out the wrong forms. In our case, the Bureau of Internal Revenue (BIR)…
Filing taxes can be a confusing activity for everyone, especially those new to it. One confusion that we encounter is choosing the right form for our purpose. We go straight to the Bureau of Internal Revenue (BIR) and get overwhelmed with tons of forms getting in our hands. Further, the BIR recently released a new…
DAT Files play a huge role in filing tax returns to the Bureau of Internal Revenue (BIR). These are necessary attachments that have to be sent to the agency through email in order to complete the whole process of tax filing. Patience is a requirement for anyone filing their taxes. You’ll encounter unexpected lag time,…
July 9, 2018 — Since we have currently reached the end of the 2nd quarter, the time to settle those quarterly taxes from the previous quarter begins! With so many updates regarding the tax regulations in the past few months, you are probably scratching your head by now, wondering where to start and what forms…
Considered as one of TRAIN Law’s most intriguing provisions ever since its effectivity was the 8% income tax rate option. Not only did it became one of TRAIN’s most talked about rules as mentioned by most individuals, but even businesses were also interested about any developments regarding this new tax rate.. So, let’s cut to…
