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.
Unless you are planning to do business under your name, you will need to file a business name. This filing entitles you to do business under that name. However, make sure that your business name is unique and it doesn't violate any intellectual property laws (e.g. trademarks). Check out Department of Trade and Industry (DTI) and … Continue reading The BIG Idea – Part II