Before concluding 2024, here are the key taxation changes in the Philippines that every business should know before entering 2025. The year 2025 is poised to usher in significant developments in Philippine taxation, which is reflective of the government’s ongoing efforts to streamline tax administration, stimulate economic growth, and promote… Read MoreTaxation in the Philippines: What to Expect in 2025
It’s time to fine-tune your business strategies and set yourself up for financial success as the new year approaches. From saving on taxes to strategizing better financial habits, these practical steps will help you make smarter money moves that will surely keep your business successful. Plan for Taxes to Save… Read MoreNew Year, New Success: Prepare Your Business for 2025
There’s DTI Registration, BIR Registration, and there’s LGU Registration—which you need to renew yearly for your business. But what exactly does a Mayor’s Permit do, and why is it important to renew it every year? Let’s break it down. Don’t have time to get your Mayor’s Permit? Taxumo can help… Read MoreMayor’s Permit for Businesses: Why You Need to Renew It Yearly
With 2024 coming to a close, business owners are wrapping up sales and year-end campaigns. But as the year comes to a close, it’s also time to start preparing for the Requirements for Renewal of Business Permit for next year. To keep your business running smoothly, here’s a simple checklist… Read MoreRequirements for Renewal of Business Permit – What to Prepare?
Have you ever wondered what your next step should be after registering with the DTI and LGU? What BIR requirements for new business do you need to prepare to fully legalize its operations? In this blog, we’ll dive deeper into the steps to make your business legal and compliant with… Read MoreBIR Requirements for New Business – What Do I Need to Prepare?
Remember that trademark scene from Jurassic Park, the one with the glass of water moving with the vibrations because something big is coming? Then better hold on to your glasses of water for this update! Well it is not that big, nor dangerous. More Barney than Jurassic Park, get it?… Read MoreNavigating BIR Rules on Receipts: Transitioning to Invoices
The digital marketplace is an ocean of opportunity for Filipinos looking to express themselves and earn income online. It is ever-changing with the tides of technology and regulation. In this new environment, a new economy has definitely been created and with it comes regulations. A recent governmental update made its… Read MoreUnderstanding the 1% Withholding Tax on Online Sellers
Embarking on a freelance career offers flexibility and the thrill of entrepreneurial freedom, but an essential step often overlooked is the legitimization of the business. For instance, do freelancers need a new tax identification number to pay business tax? What exactly is a Certificate of Registration? Is a personal TIN… Read MoreAll about a Freelancer’s Business Tax
Navigating BIR Inventory List compliance is crucial for businesses operating in the Philippines. This regulation mandates that any company holding inventories for commercial sale (like online sellers) must submit an updated inventory list to the Bureau of Internal Revenue (BIR) annually. Failure to comply can lead to significant penalties, making… Read MoreBIR Inventory List Compliance for Philippine Businesses
We all want to start the year well, so to kick off 2025 to a good start, business owners, employees, and freelancers must stay updated on the latest BIR tax table and government contributions. These updates will help you understand how to plan better this year to keep your finances… Read MoreBIR Tax Table and (SSS, Philhealth, & Pag-ibig) Contribution Updates for 2025
Filing quarterly income tax can feel overwhelming, but it’s an important step for staying on top of your tax game. Understanding how to compute quarterly income tax can help you avoid penalties and make the most of any deductions or credits. In this guide, we’ll breakdown the basic steps for… Read MoreHow to Compute Quarterly Income Tax – For Filipino Taxpayers
One important document that every online seller should be aware of is the BIR 2307. This tax certificate is issued by ecommerce platforms and serves as proof of the tax withheld on payments you receive. We’ll explore why it’s essential for online sellers to get BIR 2307 from ecommerce platforms,… Read MoreBIR 2307: Why Online Sellers Need to Receive It from Ecommerce Platforms