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
Needless to say, running a business in the Philippines comes with a number of complex, complicated, and unique financial challenges—from managing taxes to keeping track of daily expenses, to name a few. So, whether you’re a small business owner, freelancer, or running a growing enterprise, having an efficient accounting system… Read MoreWhich Accounting Tools Work Best for Filipino Business Owners?
Starting a business is exciting. You have a great idea, the drive to make it happen, and a vision of success. But learning how to run a business successfully isn’t just about selling products or offering services—it’s also about managing finances, operations, and, most importantly, paying taxes. Many business owners tend to… Read MoreHow to Run a Business and Deal with Taxes: Tips from Entrepreneurs
Starting a new business is exciting, but dealing with the BIR requirements for new business can feel overwhelming. But gone are the days of doing everything manually or the traditional way! BIR registration is now possible online with Taxumo, making the entire process quicker and easier. Before you begin, it’s important to know if… Read MoreHow Taxumo Helps with BIR Requirements for New Business
Taxes are the lifeblood of the State, empowering the government and its agencies to operate effectively and fulfill their responsibilities for the welfare of the people. In essence, the system of taxation embodies the principle of reciprocity: what the citizen contributes through taxes is reinvested to improve society. As the… Read MoreWhat Business Owners Should Know About VAT in 2025
The Importance of Registering for Side Hustles (Lazada Affiliates, etc.) Side hustles are a great way to supplement your income, and they’ve become more accessible than ever. With platforms like Lazada offering affiliate programs, you can earn commissions by simply sharing links and promo codes. However, to make the most… Read MoreHow to Receive your Payouts and Issue Invoices as Lazada Affiliates
The 2303 BIR Form, also known as the Certificate of Registration (COR), is a vital document issued by the Bureau of Internal Revenue (BIR) in the Philippines. This document officially registers an individual or entity as a taxpayer, outlining key tax obligations and serving as proof of compliance with government… Read MoreUnderstanding the 2303 BIR Form: A Guide to the Certificate of Registration in the Philippines
In the digital age, selling online provides wide of opportunities for entrepreneurs. Whether you’re using social media platforms or e-commerce giants like Lazada and Shopee, understanding the taxes of your business activities is crucial. This guide will cover essential steps for registering as either a sole proprietor or a corporation… Read MoreOnline Sellers Taxes: A Comprehensive Guide
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