So you want to pay less income tax from your business? Tax evasion is illegal, thus, I never recommend it to anyone. But tax avoidance is not. And if you will do it with good faith or with an intention to help people, tax avoidance can be a great way to minimize your business' … [Read more...]
The Grueling Tax Penalties in the Philippines and More
In order to encourage taxpayers in the Philippines to file and pay their taxes on or before the due date, the BIR and DOF impose penalties for late filing of any tax declarations. Basically, the tax penalty here is composed of interest (20% per annum), surcharge (outright 25% if … [Read more...]
33 Random Acts to Help the Philippines Progress
Have you ever asked yourself what can you contribute to your beloved country to help it move forward and achieve progress? There are no people in the world who can help the Philippines better than ourselves – the Filipinos and the citizens of this country. If the Americans, … [Read more...]
Top 10 New Year’s Resolutions for Philippine Politicians
Politics is not the main topic of this blog – we are usually blogging about business. But politics can also have a great effect in the business sector, especially the small and medium companies. We need a good government to support aspiring entrepreneurs and aid existing … [Read more...]
The Difference between Sales invoice and Official Receipt
What’s the difference between a Sales Invoice and an Official Receipt? To address this question, the following are some of the differences of sales invoices and official receipts: Sales Invoice Official Receipt 1. A sales invoice is a … [Read more...]
Tax Blog in the Philippines
Majority of our visitors and readers come to our blog in search for tax articles like income tax computation, filing of ITR, getting TIN, business registration with the BIR, and other tax tips for businesses in the Philippines. No wonder many of my close friends are telling me … [Read more...]
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