Category: Tax
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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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BIR Advisory Update: AITR Deadline Extended to June 15, 2020
In light of BIR Bank Bulletin No. 2020-08, taxpayers were granted an important adjustment regarding the filing of their Annual Income Tax Returns (AITR) for the year 2020. Here’s what you need to know: Extended Deadline Since June 14, 2020 fell on a Sunday, the Bureau of Internal Revenue (BIR) allowed AITR filings to be
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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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