New BIR Advisory: Bank Bulletin No. 2020-08 reiterates the relevant policies on the acceptance of Annual Income Tax Returns and payments.
Category: My Business
You Have Been Served!
The Bureau Of Internal Revenue (BIR) recently issued REVENUE MEMORANDUM ORDER NO. 40-2019. The said RMO has established the procedures for the proper service of assessment the BIR Notices in Accordance with the Provisions of Section 3.1.6 RR 18-2013. The main objective of the RMO is to prescribe the proper procedures to be observed when … Continue reading You Have Been Served!
Are you a Foreign National? Do you want to work in the Philippines?
If you are a foreigner and you would like to work in the Philippines then it's a must for you to know the new guidelines for foreign nationals. Foreign Nationals who will engage in work outside of an employment arrangement are required to secure a Special Working Permit (SWP).For professional related work or services that … Continue reading Are you a Foreign National? Do you want to work in the Philippines?
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 … Continue reading The 3 Common Taxes that YOU need to KNOW.
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 … Continue reading One Person Corporation (OPC)