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News and Events

Call It TRAIN 2 or TRABAHO, Small Businesses Stand to Benefit From Lower Corporate Income Taxes

New tax reform bills aim to reduce income taxes on companies from 30% to 20-25%

The second package of the Comprehensive Tax Reform Package is back in the spotlight after President Rodrigo Duterte urged its approval in his third State of the Nation Address. According to the President, Package 2 will benefit all businesses especially small and ...

by Raymond Abrea  | August 22, 2018 10:00:00
Franchising

Want to Get into Franchising? Here's a Guide to Taxes You Must Consider

A leading tax expert says it's better to be safe than be sorry when it comes to business taxes

The economic gains and opportunities contributed by the fast-growing micro, small, and medium enterprises (MSMEs) are undeniable. As of 2016, MSMEs comprised 99.57 percent of the businesses in the country, contributing 63.3 percent of the employment for the same year.Under the Duterte ...

by Mon Abrea  | August 14, 2018 01:00:00
News and Events

Are You a VAT Taxpayer Earning Php3-M or Less? You Have Until March 30 to Change Status

Otherwise, you're still covered by 12% VAT and lose the option to pay just 8% income tax on gross sales/receipts

Under the Tax Reform for Acceleration and Inclusion (TRAIN) Law that came into effect this year, the threshold for the value added tax (VAT) was raised to Php3 million from Php1.919 million.This presents a special opportunity for a class of taxpayers who ...

by Pauline Macaraeg  | March 20, 2018 10:00:00
News and Events

Little-Known TRAIN Law Provisions That Simplify Paying Taxes

A tax expert explains a number of items in the new tax law that make life easier for taxpayers

The Tax Reform for Acceleration and Inclusion (TRAIN) law, which took effect January 1 this year, has been widely praised for lowering the income taxes of the vast majority of salaried and self-employed taxpayers. In fact, more than 80 percent of taxpayers ...

by Pauline Macaraeg  | March 09, 2018 10:00:00
News and Events

How Much Income Tax Will Manny Pacquiao, Kris Aquino, John Lloyd Cruz and Other Top Taxpayers Pay Under the New Tax Law?

Hypothetically, the country's top taxpayers are going to pay much more

Much of what has been written about the newly signed tax law, the Tax Reform for Acceleration and Inclusion (TRAIN) law, suggest that the new measure will lead to lower personal income tax payments of most wage and salaried employees. In fact, ...

by Entrepreneur Staff  | December 27, 2017 10:00:00
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