As we know it, employers are basically required to deduct and withhold tax from the compensation or salary they pay to their employees. When computing for the withholding tax on compensation income, the following methods are prescribed by the BIR Revenue Regulations No. … [Read more...]
What are the Income Tax Rates in the Philippines for Individuals?
What are the income tax rates in the Philippines for individuals? Individual taxpayers, as opposed to corporations and partnerships, include employees and self-employed persons engaged in business or practice of profession. The Philippines usually uses graduated income tax rates … [Read more...]
BIR Annual Registration Fee Deadline
When is the deadline for paying our BIR annual registration fee? The BIR annual registration fee, using BIR Form 0605 (Payment Form) should be filed and paid upon registration of your new business and on or before January 31 of every year for renewals. In other words, the BIR … [Read more...]
How to Claim Employees’ Income Tax Refund in the Philippines
How can employees claim their income tax refund? If you are an employee, you may notice that your employer is deducting and withholding a tax amount on your compensation income on a monthly basis. Your employer is just actually complying with the Bureau of Internal Revenue (BIR). … [Read more...]
8 Reasons Why December 21, 2012 is not the End of the World
December 21, 2012 – this is the date of the end of the world said to be based on the Mayan calendar. This doomsday information is spreading on the Internet, on the TV news, and other media - and it is scaring out many people at this moment. Today is already the thirteenth day … [Read more...]
List of Business Permits and Licenses in the Philippines
People do business to make a living, serve their community, and pursue their dreams. It is good to hear a person who’s taking risk to start his or her business, whether small, medium or big. However, the process of starting and registering a business can be one of the most … [Read more...]
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