This Circular was issued to amend RMC. No. 25-2020. Be advised that the filing and payment of 2019 Annual Income Tax Return (AITR) are extended from April 15, 2020, to May 15, 2020, without any tax penalties being imposed to the taxpayer. The Bureau of Internal Revenue (BIR) as of March 18, 2020, gave Revenue…
The Bureau of Internal Revenue (BIR) as of March 16, 2020, gave Revenue Memorandum Circular No. 25-2020 (RMC No. 25-2020), which will be effective immediately, titled as “Filing of the 2019 Income Tax Returns and Submission of Required Attachments”. Despite the one-month community quarantine lockdown of the National Capital Region (NCR), the filing of Annual…
Tax deductions are an important factor that most businesses in the Philippines need to utilize since it reduces the amount of taxable income that a company owes to the government. Rule-of-thumb is that companies could obtain these deductions as long as transactions are presented mainly for business purposes and in the form of official receipts…
A list of important things you need to know about Percentage Tax Percentage Tax is a business tax regulated in our country Taxpayers who are Non-VAT with annual revenues less than PHP 3M Filing of 2551Q is on or before the 25th day after the last quarter Failure to pay BIR form 2551Q, individual will…
Know the difference between VAT and Non-VAT and the forms that you might need to be tax compliant. The definition of Value-Added Tax and Percentage Tax. A list of things you need to know as a taxpayer if you are VAT or Non-VAT registered. A list of possible forms you need to submit. According to…
In the Philippines, Tax compliance is one of the most tedious things to handle as a business. The better way of doing tax compliance is through automation. While a lot of young developers are on their way to create such products, JuanTax has been leading the Tax Technology industry in the Philippines since 2017. Automating…
A day filled with milestones and successes of the agency with taxpayers at the core of the progress. (Left to right) Deputy Commissioner Celia King, JuanTax CEO Marvin Galang, Finance Secretary Carlos Dominguez III, BIR Commissioner Caesar Dulay, Deputy Commissioner Arnel Guballa and Deputy Commissioner Marissa Cabreros. Philippine International Convention Center, Feb 18 – the…
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…
