The Bureau of Internal Revenue (BIR) of the Philippines has recently enacted Revenue Regulation No. 8-2024, marking a significant shift in the BIR taxpayer classification system. This regulation, effective from March 22, 2024, aligns with the provisions of Section 21(b) of the National Internal Revenue Code of 1997, as amended… Read MoreBIR Taxpayer Classification Under the New Revenue Regulation No. 8-2024
Taxumo understands the importance of being precise and complete when filling out financial documents, especially when it involves Value Added Tax (VAT) in the Philippines. We are always asked by online sellers, professionals, MSMEs, etc. on how to write on a VAT Receipt. This guide will help you on how… Read MoreGuide on How to Write on your VAT Receipts
We recently published an article about the BIR new rules on receipts. For those who are still seeking for clarity, here are the top questions that we received from different customers and taxpayers with regard to RR 7-2024. 1. What are the specific changes introduced by BIR RR No. 7-2024… Read MoreFrequently Asked Questions on RR 7-2024
Have you ever taken a look on your COR and wonder, what is this 1701Q? How does it work and what does it declare? To simply put it – BIR Form 1701Q, or the Quarterly Income Tax Return is filed by any taxpayers who are earning income within the Philippines.… Read MoreHow to File 1701Q Online with Taxumo
Taxumo supports Online Sellers on understanding how taxes work in the Philippines With the recent efforts from BIR to tax online sellers, BIR also announced recently its extension for tax compliance and BIR Registration Online Seller (according to BIR RMC No. 55-2024). This extension gives online sellers additional time to… Read MoreBIR Registration Online Seller Deadline Extended
Congratulations on filing your Annual Income Tax with Taxumo! Along with that Annual ITR Filing, Taxumo also submits, if applicable, your Summary Alphalist of Withheld Taxes which includes the details of the Form 2307s you received from your clients. Now there is one more step for you to do and… Read MoreEAFS submission – How to Submit Annual Income Tax Return attachments
Ever felt overwhelmed by all the rules and regulations about receipts? Is it your first time writing receipts?You’re not alone! We know taxes can be a headache, but we also know how much you care about your business. That’s why we created this simple guide to writing Non-VAT Official Receipts.… Read MoreHow to Write Non-VAT Official Receipts in the Philippines
We’ve all been there. Life gets busy, and sometimes important deadlines slip our minds. If you’re reading this, there’s a chance you missed the tax filing deadline, and you might be feeling a little stressed or overwhelmed. But don’t worry, you’re not alone! And the good news is, it’s not… Read MoreHow to File Late Taxes Online in a Few Minutes?
Hey there, fellow hustler! Have you heard of the new BIR RMC No. 55-2024? Basically BIR granted extension to online sellers for tax compliance until July 14, 2024. Good news is you still have more time to figure out how to do your taxes, and the greater news is you… Read MoreBIR Tax Online Sellers – Is There An Easy Way To Do Taxes?
With our many conversations with individuals, we are surprised that some of them don’t actually know if they are legitimately employed in the companies that they are working in. They would ask us, “how would you know if I am employed versus hired as an independent contractor?”. Aside from checking… Read MoreGuide on How to Get BIR 2316