As a business owner, you already have a lot on your plate. From managing day-to-day operations to keeping an eye on finances, the last thing you want to worry about is staying compliant with tax laws. However, failing to comply with tax regulations can have serious consequences, including hefty fines and legal issues. This is…
As a professional who wants to engage in business activities in the Philippines, it is important to be aware of the requirement to register your business with the Bureau of Internal Revenue (BIR). This is because all businesses operating in the country, regardless of size or industry, are required to register with the BIR…
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…
Wondering where your money goes? Here’s for you! Why do we pay taxes? “There are only two things certain in life: death and taxes.” This popular saying only shows how taxes greatly affect our entire lives, making us wonder, how do taxes really work? Have you received the financial support given by the government in…
It’s the busy season of the year again where we have to prepare our financial statements, inventory listing, and other reports such as tax returns and the required attachments therein. For guidance, please see the list of information below that a taxpayer must know and prepare for before the due date: 1. Renewal of Registration…
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…
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…
Digital tax filing and payment are intended to make tax compliance easier. The online tax payment also allows for fast-tracked payment of taxes to the BIR. Payment confirmation is a vital part of validating that your tax forms were successfully filed to the BIR and your tax dues were duly paid. The Payment Confirmation email…
