BIR seminars 2012

Books of Accounts of Taxpayers in the Philippines

All persons engaged in trade or business, or in the practice of profession registered with the Bureau of internal Revenue (BIR) are required to maintain books of accounts. Books of accounts are required to be registered with the BIR and is where your records all financial transactions about your business.  Entries in the books of accounts are

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Internal Revenue Taxes in the Philippines

The National Internal Revenue Code of 1997 (Tax Code) under Republic Act No. 8424, as amended or the Tax Reform Act of 1997 enumerates the internal revenue taxes imposed and administered by the Bureau of Internal Revenue (BIR) under Section 21 as follows: SEC. 21. Sources of Revenue. – The following taxes, fees and charges are deemed

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Tax Compliance of Freelancers in the Philippines

By: Garry S. Pagaspas As Wikipedia.Org defines the term “Freelancer”, and hereunder we quote: “A freelancer, freelance worker, or freelance is somebody who is self-employed and is not committed to a particular employer long term. These workers are often represented by a company or an agency that resells their labor and that of others to its clients with or

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7 Features of Withholding Tax System in the Philippines

Withholding tax is the most basic tax type that each and every taxpayer engaged in trade or business or in the practice of profession must learn. Upon registration of their respective business entities, withholding tax type is a must and it may come in three (3) tax types as sub classifications as follows: Expanded withholding

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8 Ways to Learn BIR Tax Compliance

By: Garry S. Pagaspas As the saying goes: “The only things certain in life are death and taxes” – Benjamin Franklin “There is nothing permanent except change” – Heraclitus of Ephesus In my years of tax practice, I have come to embrace the above sayings describing the need to learn taxation as applied to business,

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