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...]
Business Taxes in the Philippines
Business taxes in the Philippines can either be Value Added Taxes (VAT) or Percentage Taxes. Furthermore, an Excise Tax can also be imposed on certain taxpayers who are in the course of trade or business as an addition to VAT. Unlike an income tax, which is based on the … [Read more...]
How to Compute VAT Payable in the Philippines
How to compute Value Added Tax (VAT) payable in the Philippines? Any person or entity who is engaged in trade, business or in the practice of profession may be liable to business taxes. Business taxes can be either a Percentage tax or a Value Added Tax. Furthermore, a taxpayer … [Read more...]