What is Percentage Tax? Percentage Tax is a business tax that is imposed on persons who sell or lease goods, properties or services in the course of their business. Percentage Tax Under … [Read more...] about Quarterly Percentage Tax
BIR
What is the Difference between Sales Invoice and Official Receipt?
Every taxpayer engaged in trade or business are required to issue BIR registered Sales Invoice and Official Receipt for each sale of goods or services. Issuing a BIR Sales Invoice and/or Official … [Read more...] about What is the Difference between Sales Invoice and Official Receipt?
What are the Books of Accounts?
When you register a business in the BIR, it is a requirement that you register and maintain your Books of Accounts. If this is your first time to hear that, this article will help you know and … [Read more...] about What are the Books of Accounts?
What are the Allowable Deductible Expenses in the Philippines?
If you want to minimize your income tax legally, you should know what the allowable deductible expenses in Philippines are. Because more expenses means lower income tax. But you should know that there … [Read more...] about What are the Allowable Deductible Expenses in the Philippines?
Which is better, Itemized Deduction or Optional Standard Deduction (OSD)?
As a business owner, you are required to file your Income Tax Return quarterly and annually. And when it comes to Income Tax Return, there are two types of tax deduction schemes. These are … [Read more...] about Which is better, Itemized Deduction or Optional Standard Deduction (OSD)?
Important Dates to Remember for Philippine Businesses
This article will give you an overview about the important dates to remember for Philippine businesses when it comes to SEC, LGU, and BIR. Have you ever tried running for a race? It can be 5k, 10k, … [Read more...] about Important Dates to Remember for Philippine Businesses