Category: SMEBuziness
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Why Struggle with Slow Systems? Cloud Accounting is the Smarter Move
In today’s digital landscape, cloud accounting is no longer just an option—it’s a strategic advantage. By moving your financial records to the cloud, you gain real-time access to your data, streamline your processes, and significantly reduce overhead costs. Unlike traditional desktop or on-premise systems that require significant investment in IT infrastructure and ongoing maintenance, cloud-based…
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An Economic Overview of the Philippines Post-COVID-19
As the Philippines continues to navigate the effects of the COVID-19 pandemic, recent economic indicators suggest a mixed, and at times contradictory, picture of the country’s financial health. While the Philippine Stock Exchange Index (PSEi) remained resilient around the 6,297.78 level during this period, key economic fundamentals paint a less optimistic story. The Employment Crisis…
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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…
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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…
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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…
Bong Corpuz & Co. CPAs 