As part of running a business in the Philippines, the law requires local and foreign enterprises to be fully compliant with current tax laws on a daily basis.
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Ensuring that your company’s operations run smoothly is one of the top priorities of any businessman. Along with managing operations, you must also make sure that your finances are planned out and maximized to fully cater to your business needs.
On March 26, 2021, President Rodrigo Duterte signed into law Republic Act (RA) No. 11534, otherwise known as the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act.
The Securities and Exchange Commission (SEC) issued SEC Memorandum Circular (MC) No. 3-2021 to prescribe the use of the Online Submission Tool (OST) for the filing of audited financial statements (AFS), general information sheets (GIS), and other annual reports of registered corporations in the Philippines.
As a business owner in the Philippines, it is wise to ensure that your company’s accounts are always ready for audits throughout the year.
As an e-commerce entrepreneur, it is imperative to ensure that you are knowledgeable about the basics of managing your accounts.
Many startups have limited budgets and operate on thin profit margins. There isn’t much room for error, and handling finances strategically is critical to success.
During his fourth State of the Nation Address, President Rodrigo Duterte requested the Congress to pass the “Tax Reform for Attracting Better and Higher-quality Opportunities” bill, more commonly known as TRABAHO bill.
RA. 10963, also known as the Tax Reform for Acceleration and Inclusion (TRAIN) seeks to propose major changes in the Philippine tax system. It was signed into law by President Rodrigo Duterte on December 19, 2017.
When your local business is already in operational status, this means that you have to pay your taxes and other dues to the government. In this article, we will discuss two types of taxes in the Philippines: National and Local taxes.