Do’s and Don’ts of Renewing Business Permits in the Philippines

Streamlined Business Permit Renewal: A Guide for Philippine Entrepreneurs under the LGC of 1991 Navigating the Legal Landscape: Understanding the LGC of 1991 The Local Government Code (LGC) of 1991, particularly Sections 143 and 171, sets a clear legal framework for local taxation and compliance in the Philippines. Understanding these sections is crucial for businesses […]

10 Things You Should Know about EOPTA (R.A. 11976)

RA 11976, the Ease of Paying Taxes Act, marks a transformative change in the Philippine tax system. Why? — it aims to create a more equitable and efficient tax environment, focusing on modernization, taxpayer rights, and ease of compliance, particularly for SMEs. Key features include: These amendments to the NIRC sections (21, 22, 51, 56, […]

BIR Increases VAT Exemption Threshold for Residential Property Sales

This advisory informs the public, particularly real estate developers, investors, and homebuyers, about the Bureau of Internal Revenue (BIR)’s recent increase in the value-added tax (VAT) exemption threshold for residential property sales.