Introduction Becoming one’s boss is a dream that many have. After all, working for yourself means you can control your hours, workload, and sometimes, even your pay. One way to go about this is to establish a business. However, this can be a complicated venture, especially if you consider the process of registering your business,...Read More

Introduction Taxes are mandatory contributions imposed by the government and are used to fund infrastructures and services for the public. Some of these are hospitals, schools, road works, and government offices. In addition, the collected tax is used to maintain and further develop the economy of the country. They are indeed vital to keep a...Read More

Nothing is forever, except change. The wise words of Buddha proclaim the undeniable truth that the only thing constant is change. Life is a process of becoming; thus, we should always keep ourselves abreast with the changing times. After all, progress is impossible without changing the status quo. For most of us, we see New...Read More

Death is not often the subject of conversations, especially in Filipino culture. People only talk about it when the reality comes, and together with this, comes the talk about the estate left behind by the decedent. Because of this, Filipino families tend to neglect the duty to settle the taxes that is imposed on the...Read More

For those who have encountered a political post in a couple of social media channels, you have most likely seen the comments of angry citizens asking if the poster have any contributions in this country so far, which is then frequently rebutted with “I pay my taxes!” remark. It might appear a little absurd, but...Read More

“Starting up a business is the easiest thing in the world,” said no one ever. We all know that there are too many things to take care of not only when starting a business but also even after it has been established. Most of the time, a large amount of money is involved in this […]Read More

Value-added Tax (VAT) is an indirect tax to be paid by the consumer of the product and/or service. Hence, it is important to know how VAT works. Read This :   Taxes in the Philippines Illustration: ABC Store buys its apples from its supplier, XYZ Corporation. The cost of the apple is PhP 100.00 (VAT Inclusive). […]Read More

Business Taxes in the Philippines Tax When is it paid? a.) Income Tax – This would depend in the set-up of the business.i. Sole Proprietorship – Graduated income tax from 20% to 35% depending on the net income.ii. Partnerships and Corporations – Corporate Income Tax of 30% of the Net Income or Minimum Corporate Income Tax of 2% […]Read More

Tax Incentives: What to know? For businesses to avail of certain tax incentives, it may register with either the Philippine Economic Zone Authority (PEZA) or the Board of Investments (BOI). In registering with either PEZA or BOI, the business may avail of 4 to 8 years of income tax holiday or a preferential tax rate […]Read More