Effective from January 1, 2024, Revenue Memorandum Circular No. 8-2024 aims to clarify the provisions of Revenue Regulations No. 16-2023, specifically focusing on putting withholding tax on gross remittances made by online sellers and merchants.
Tax deductions are important for businesses in the Philippines, as they reduce taxable income owed to the government. In this guide, we discuss the management of official receipts to make sure businesses can capitalize on available deductions effectively. It’s crucial to understand that deductions are accessible when transactions are mainly for business purposes and supported…
Amidst the busyness of starting the new year, we taxpayers must be mindful of our duties in completing compliance standards. This means keeping up with the reporting requirements established by both the Bureau of Internal Revenue (BIR) and the Local Government Units (LGU). Read more to learn about the deadlines: The BIR Compliance Annual Returns…
Today, Beppo stands proud as one of the Top 100 Startups in the Philippine Startup Week, a testament to the collective efforts and unwavering commitment to excellence! 🎉 This revolutionary Bookkeeping and Compliance platform, built exclusively for Filipino SMEs, surpasses typical firms, attaining 5x efficiency and allowing for the processing of 150 clients per person.…
With the dynamic economic landscape in the Philippines, small businesses play a crucial role in driving growth and fostering innovation. For many Filipino entrepreneurs, the dream of building a successful business often starts with a good idea and a lot of determination. But along the way, one element that cannot be overlooked is efficient bookkeeping.…
The vibrant entrepreneurial spirit in the Philippines is unmistakable. As more and more Filipinos are embracing the self-employed route, understanding the nuances of the tax system becomes crucial. At the heart of this system is the income tax return (ITR), a document many Filipinos regard with a mix of uncertainty and confusion. But fear not!…
Tax Estimation: Old vs. New Every year, when tax time comes, people look for a ‘tax calculator’ to quickly find out what they might owe or get back. But there’s a newer, smarter way to do it called tax projection. Before you look for the usual tax calculator, check out this new way to estimate…
