by Cory Macatumpag | Aug 6, 2015 | Tax Awareness
If you were not able to file your tax returns with the BIR, here are the rates for computing the penalties (surcharge, interest and compromise).The following penalties will be imposed upon filing, in addition to the tax due: A. FOR LATE FILING OF TA RETURNS WITH TAX...
by Cory Macatumpag | Aug 5, 2015 | Tax Awareness
Tax compliance is always challenging for most business establishments. In comparison with large companies Micro Entities, Small and Medium Enterprises (MSME’s) cannot always afford the cost of in- house accountants or even seek the services of outsource...
by Cory Macatumpag | Jul 31, 2015 | Tax Awareness
Thinking of starting a small business with dreaming of making it BIG Business one day?? But first do you know what kind of BIR registration are applicable? Nowadays, there are many small establishments in the country such us, sari- sari store, barber shop, food...
by Cory Macatumpag | Jul 21, 2015 | Tax Awareness
Lessors are reminded to monitor and submit to BIR a semi-annual Lessee Information Sheet (see image below) as prescribed by Revenue RegulationsNo. 12-2011 issued on July 25, 2011. The required Lessee Information Sheet (report), which shall be under oath, shall...
by Cory Macatumpag | Jun 25, 2015 | Tax Awareness
A company or persons engage in business in the Philippines are required to file their monthly or quarterly VAT or percentage as indicated in their Certificate of Registration (BIR form 2303). Under RR 6-2015 it is prescribe for mandatory use the eBIRForms in filing...
by Greg Aquino | Jun 24, 2015 | Accounting Best Practices
A lapsing schedule is a worksheet containing specific accounting data about property and equipment. It is specific accounting data regarding fixed assets. Included in the Schedule are the original purchase cost of each asset, additions to the assets, sales of the...
by Cory Macatumpag | Jun 22, 2015 | Uncategorized
Today, outsourcing has became a business solution. More and more cost and quality conscious businesses all over the world are turning to outsourcing their non-core business processes. The current complexity of doing business and maintaining a company with high...
by Cory Macatumpag | Jun 18, 2015 | Uncategorized
What is a representative office? A representative office is foreign-owned corporation, organized and existing under foreign laws. It cannot derive income within the Philippines and is fully financed by the foreign corporation. Its main purpose is to deal directly with...
by Cory Macatumpag | Jun 17, 2015 | Uncategorized
Every year, an Annual Alphalist of Employees are prepared and is mandatory be submitted to the Bureau of Internal Revenue on or before January 31st after the close of each year. The business world preparers of the alphalist encounters several issues that happens year...
by Cory Macatumpag | Jun 17, 2015 | Accounting Best Practices, HRIS and Payroll
The most essential task of Human Resource Management is the administration of the employee’s “201” file. The 201 file is basically the employees’ profile in the organization’s records. The 201-File tracks a wide range of personnel information and provides...
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