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News and Events

How Many Taxpayers Were Caught Up in the Gov’t Anti-Tax Evasion Drive?

Only a few of the companies charged belonged to the country’s top 1,000 corporations

Every now and then, there’s a news report about a prominent person or a well-known company being charged by the Bureau of Internal Revenue (BIR) with failing or refusing to pay taxes to the government.Perhaps this should no longer come as a ...

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

Planning Ahead: Want to Know How Much Estate Taxes Your Heirs Will Pay Under TRAIN Law?

The new law cuts the tax on inherited assets and simplifies the process of computing it

Among the many taxes revised by the Tax Reform for Acceleration and Inclusion or TRAIN law, which officially took effect at the start of 2018, is the estate tax. It’s the government’s cut on inheritance or the transfer of assets belonging to ...

by Lorenzo Kyle Subido  | January 19, 2018 10:00:00
News and Events

Isumbong Mo Kay Dulay: BIR Chief Urges Staff of Employers Still Deducting Old Withholding Taxes to Blow the Whistle on Bosses

But employers’ confederation appeals for more time for some members to re-program payroll systems

Bureau of Internal Revenue Commissioner Caesar DulayThe Bureau of Internal Revenue (BIR) wants employers to immediately implement the new withholding personal income tax rates on all their employees starting on January 1, 2018 amid reports that some employers are not yet ready ...

by Entrepreneur Staff  | January 12, 2018 06:00:00
News and Events

‘Pera Na Naging Bato Pa’: Duterte Vetoes New Perks for Self-Employed and Professionals Earning Less Than Php500K Under New Tax Law

He also shot down four other provisions of the TRAIN law that takes effect Jan. 1, 2018

President Rodrigo Duterte has vetoed five provisions of the Tax Reform for Acceleration and Inclusion (TRAIN) law which he signed last December 19 and is set for implementation on January 1, 2018.The law incorporates the first phase of his administration’s tax reform ...

by Entrepreneur Staff  | December 23, 2017 12:00:00
News and Events

What’s the Impact of the Planned Hike in SSS Contributions on Employees’ Take Home Pay?

Can you afford the proposed higher social security contributions?

The state-run Social Security System (SSS) has announced plans to increase members’ contributions starting January 2018 to compensate for the higher pensions given to retirees and to sustain the pension fund’s actuarial life.According to reports in the Philippine Daily Inquirer and Philippine ...

by Pauline Macaraeg  | October 02, 2017 07:00:00
News and Events

Entrepreneurs back government plans for tax reform

Trade group AFFI reiterates MSME needs for tax incentives, simplified systems

  While change has long been overdue on the government’s updating of the current tax scheme, small and medium businesses remain confident that the administration will make good in its promise to create and implement a better tax program that can attract more ...

by Entrepreneur Staff  | September 23, 2016 05:00:00
News and Events

Kick start your day, June 24: Dell exec says PH gov’t needs to boost MSMEs’ growth

And BIR falls short of revenue target for May.

Safety firstBusiness leaders are in a wait and see mode on how the incoming Duterte administration will handle the economy.For a Dell Inc executive, “keeping the country safe” will boost the micro, small, and medium enterprises sector (MSMEs), and propel the economy ...

by Entrepreneur Staff  | June 24, 2016 08:00:00
Startup Tips

What you need to know about income tax filing

Tax whiz Mon Abrea answers the frequently asked questions of taxpayers.

As the income tax filing deadline looms, most taxpayers are still confused about what to prepare, let alone what form to fill out with the multiple choices the Bureau of Internal Revenue (BIR) has made available to the public.Entrepreneur Philippines talked with ...

by Elyssa Christine Lopez  | April 08, 2016 07:00:00
Startup Tips

6 tips for avoiding financial disaster when starting a business

Before taking on a new venture, make sure you are on solid financial footing.

Starting your own business could be the ticket to the personal autonomy and financial independence you have always wanted. If it does not work out as planned, though, it may feel more like a nightmare—particularly if it has made a mess of your personal ...

by Jennifer Woods  | April 01, 2016 07:00:00
Startup Tips

Financial Adviser: What is value added tax?

Know how value added tax works and what you should look out for as a business owner.

Q: I have a retail startup that I plan to incorporate and register with the Bureau of Internal Revenue (BIR). My friend advised me that once my business is registered, I will be liable for Value Added Tax (VAT). How does VAT ...

by Henry Ong  | March 29, 2016 09:00:00
Startup Tips

Financial Adviser: 5 ways to prepare for income tax filing

Know the things that you should prepare prior to filing your income tax returns.

by Henry Ong  | March 15, 2016 09:00:00
Startup Tips

Tax evasion vs. tax avoidance: What's the difference?

Avoid common taxation troubles that may be detrimental to your business.

Benjamin Franklin once said, "Nothing in this world can be said to be certain, except death and taxes." Starting up a business may give you the financial freedom you've always longed for or that sense of fulfillment in creating something that's entirely ...

by Angelica Louise G. Dantes  | April 14, 2015 01:15:00
News and Events

Biz News Roundup: Pacquiao champions list of top taxpayers; rice tops list of consumer goods; OFW families invest remittances less

Rep. Manny Pacquiao was the top taxpayer in 2013; a recent FNRI survey reveals top food commodities patronized by local consumers; and many OFW families are now not able to invest a portion of remittances from abroad.

Several weeks before what is considered as his most important boxing match, top boxer and Sarangani Representative Manny Pacquiao was officially declared as the top taxpayer in the country. This is according to the latest data, covering individual taxpayers in 2013, from ...

by James Humarang  | March 30, 2015 02:00:00
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