If you’re looking for an online tax guide in the Philippines, this blog strives to provide you that. We know that taxation is an essential part of doing business. We also understand that it may involve anyone who earns income, whether it’s from business, profession or compensation. Taxes are not to be ignored; they should be prioritized to avoid future financial, moral, civil and even criminal troubles. Thus, we need to adequately be oriented and educated with our tax responsibilities with the government.
We have already published several tax articles, tips and guidelines, which aim to provide our concerned readers the necessary information they need to manage their tax obligations. In order to realize that goal, we have listed and summarized the following articles on Philippine taxation for your convenience.
If you are not yet registered with the Bureau of Internal Revenue as a self-employed taxpayer, who is either engaged in sole proprietorship business or in the practice of profession, you may read our article titled, “How to register your business with the BIR.” That article also includes registration of corporations with the Bureau. Moreover, the BIR has published a “Tax guide for Professionals” in their website for more information related to the registration requirements and taxability of a professional.
Taxes to pay:
If you’re a registered self-employed taxpayer or if your want to register such, you may read our article, “What taxes should I pay in the Philippines for self-employed individual” to learn the tax liabilities you should settle on time.
Business taxes include Value Added Tax and percentage taxes. The following articles will give you an idea on their nature and how to compute for your business taxes in doing business and practicing your profession in the Philippines:
- Business taxes in the Philippines
- How to compute VAT payable in the Philippines
- How to compute Percentage tax in the Philippines
For computing annual income tax and preparing the related returns (ie., BIR forms 1701 or 1702), the following articles will guide you to accomplish those tasks, whether it is for individual, corporation or taxable partnerships.
- How to compute income tax (self-employed)
- How to compute income tax for corporations and partnerships
- How to file income tax return in the Philippines
- Deductible expenses and allowable deductions
To legally avoid unnecessary taxes, reduce possibility of a BIR audit, and save your money from additional charges, such as penalties, interest, surcharge and compromise, these articles can help you.
If you employs people who are required to pay their income tax, and or if you pay for rentals, or other income payments subjects to expanded withholding tax, these articles will help you compute the amount of taxes you should withhold and remit with the BIR:
Do you wonder when should you file and pay your annual and quarterly income taxes? You should learn when before it is too late. We have posted the “BIR Tax filing and payment deadlines for income taxes here.
So you haven’t made it on the due date? Now you don’t have any clue how much total penalties you should pay for the late filing of your tax return? Here is a simple guide to compute the extra charges you should pay with the BIR: Penalties for late filing of tax returns in the Philippines.
There you are, I hope those articles and information above will guide you on your way to managing your tax obligations. We will continuously write tax articles and fill this post with important information that will guide every taxpayer in our nation. For now, have a great day and we hope for your best results and success!