A single or sole proprietorship is a type of business based on ownership that is owned by a single person who has full control and authority on his or her business. The owner is called proprietor or proprietress and he or she owns all the assets and equity of the business. The … [Read more...]
How to Close a Business in the Philippines
Starting, formalizing, legalizing, and registering a business in the Philippines could take time depending on the type of your company. But if the process of business registration takes time, business closure or cessation is even more difficult and could take longer time to … [Read more...]
Tax for Online Traders, Sellers and Professionals
One of the doctrines of taxation is that taxes are the lifeblood of our country. Without tax collection, our government cannot be able to fund our national expenditures, such as the construction of bridges, public schools and hospitals, and the implementation of existing laws and … [Read more...]
10 Mistakes to Avoid When Filing Income Tax Return
There is only one week left until April 15 is here – the deadline for annual income tax filing. If you are already done filing your income tax return with the BIR, then congratulations for making it earlier than the due date. For others who have not yet filed their income tax … [Read more...]
BIR Interactive Forms for Income Tax Filing Now Available
On November 2011, the Bureau of Internal Revenue (BIR) has issued Revenue Regulation No. 19-2011, requiring taxpayers to use the revised forms for filing their income tax returns. The new forms, which include BIR Form 1700 (Annual Income Tax Return for Individuals Earning Purely … [Read more...]
How to Replace Lost or Damaged BIR TIN Card
How to replace lost or damaged BIR TIN (Taxpayer Identification Number) card? If you have already registered a TIN before, but have lost your TIN card, or if your card has been damaged, here are the steps you can do to replace your TIN card and have a new one. 1. Know the BIR … [Read more...]
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