Guide to Registering a Sole Proprietorship Business

Guide to Registering a Sole Proprietorship Business

Setting up a sole proprietorship business is considerably faster and simpler than partnerships and corporations. Thus, this type of business organization is ideal for startups and small businesses with less complicated operations and organizational structure. The Steps in Registering Your […]

Itemized Deduction vs. Optional Standard Deduction

Itemized Deduction vs. Optional Standard Deduction

The Bureau of Internal Revenues provides business owners and self-employed PRC licensed professionals and non-PRC licensed professional with two types of income tax deduction schemes. These are the Itemized Deduction and Optional Standard Deduction. For taxpayers who want to minimize […]

eBIRForms: No Email Confirmation

eBIRForms: No Email Confirmation

The Bureau of Internal Revenues launched the eBIRForms application in 2014 and mandated taxpayers to use this channel starting 2015. Through the application, individuals can conveniently fill out BIR forms and calculate their tax dues, as well as file their […]

Guide: BIR Registration for Freelancers

Guide: BIR Registration for Freelancers

The gig economy in the Philippines has been thriving. While being a freelancer or non-licensed self-employed professional has several perks over regularly employed individuals, there are also numerous drawbacks. One of such is taxation. Unlike being a regular employee, a […]