Category: HomeBuziness

  • Good News: No More Mayor’s Permit Needed for BIR Registration!

    Good News: No More Mayor’s Permit Needed for BIR Registration!

    Revenue Memorandum Circular (RMC) No. 57-2020  In line with the BIR Citizen’s Charter and efforts to streamline business processes, the Bureau of Internal Revenue has removed the Mayor’s Permit as a mandatory requirement when registering a new business in the Philippines. This move supports the government’s initiative to improve the ease of doing business in

    Read article →

  • Know Your Rights: How the BIR Should Properly Serve Tax Notices

    Know Your Rights: How the BIR Should Properly Serve Tax Notices

    The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Order (RMO) No. 40-2019, which sets clear procedures for the proper service of assessment notices, in accordance with Section 3.1.6 of Revenue Regulations No. 18-2013. This RMO aims to ensure due process in delivering the following BIR notices: How Does This Affect Taxpayers? According to

    Read article →

  • Planning to Work in the Philippines as a Foreign National? Here’s What You Need to Know

    Planning to Work in the Philippines as a Foreign National? Here’s What You Need to Know

    If you’re a foreign national looking to work in the Philippines, it’s essential to be aware of the updated requirements and permits that govern foreign employment in the country. Key Work Permits for Foreign Nationals: Important Tax Compliance Notice The Bureau of Internal Revenue (BIR) issued Revenue Memorandum Order No. 28-2019 to outline the policies

    Read article →

  • The 3 Common Taxes that YOU need to KNOW.

    The common Taxes, applicable to taxpayer, that you need to know are (1) Value Added Tax (VAT) or Percentage Tax (PT), (2) Expanded Withholding Tax (EWT), and (3) Income Tax. However, additional taxes may apply if there are related transactions such as the following: (1) Withholding Tax on Compensation (WTC) or most commonly know as

    Read article →

  • One Person Corporation (OPC)

    The SEC Commission En Banc has already issued and approved the Guidelines on the Establishment of a One Person Corporation (OPC) under Memorandum Circular No. 7, Series of 2019. Under the Guidelines, a natural person, trust or estate may form an OPC. The “trust”, however, does not refer to a trust entity, but to the

    Read article →