Law & Government | Business Tips Philippines

20 Tips to Avoid BIR Tax Penalties

March 6, 2011 Vic 29 Comments

Taxes are burden imposed to persons and entities who earn income, engage in business, transfer personal or real properties, and other taxpayers who are required to pay taxes by the National Internal Revenue Code (NIRC) and other applicable laws. If a tax means cash outlay, … [Read more...]

2011 SEC Schedule of Filing Annual Financial Statements

March 2, 2011 Vic 3 Comments

This is a reminder for all corporations whose fiscal year ends on December 31, and are required to file their annual audited financial statements (AFS) with the Philippines Securities and Exchange Commission (SEC) head office. The commission, on its SEC Memorandum Circular No. 6 … [Read more...]

How to Compute Expanded Withholding Tax in the Philippines

February 28, 2011 Vic

How to compute expanded withholding tax in the Philippines? How to file BIR Form 1601-E or the Monthly Remittance Return of Creditable Income Taxes Withheld (Expanded) return? This is the follow up post on our previous published article titled “Expanded Withholding Tax in the … [Read more...]

Expanded Withholding Tax in the Philippines

February 27, 2011 Vic

Expanded withholding tax on certain income payments and withholding tax on compensation are two of the common withholding taxes you should withheld and remit to the government, when applicable. In turn, the payees of these income payments can claim those taxes withheld as … [Read more...]

How to File Income Tax Return in the Philippines

February 27, 2011 Vic

How to file your annual income tax return in the Philippines? On April 15, 2011, every individual or entity (eg., partnership or corporation), who are required to file their income tax return and or pay their corresponding income tax due and payable should already be done doing … [Read more...]