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 14, 2015 | Tax Awareness
SICK is the Mnemonics of the following: Surcharges, Interests, Compromises, and Kickback SURCHARGES NIRC SEC. 248. – Civil Penalties. (A) There shall be imposed, in addition to the tax required to be paid, a penalty equivalent to twenty-five percent (25%) of the...
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