Personal Tax Planning Strategies for Filipinos in 2024
As the tax season in the Philippines approaches, it signals the start of what can often be a stressful process, especially if you don’t know where to begin. For many Filipinos, filing taxes can be daunting, with complex forms, numerous documents to gather, and the fear of making mistakes that could lead to penalties or […]
How the New Minimum Wage Impacts Businesses in 2024
Over the previous several years, the minimum wage rate in the Philippines has seen substantial variations. In 2023, it reached a record high of PHP 610.00 a day. Increasing the minimum wage would mean businesses will have happier workers, leading to productivity. However, this also implies that business owners will have to face the increase […]
Understanding Corporate Income Tax
Businesses in the Philippines need to understand corporate income tax because it directly affects financial health and compliance with local regulations. In a country where corporations are subject to specific tax laws, navigating the intricacies of income tax becomes imperative. Non-compliance with these tax regulations can lead to severe consequences, including hefty penalties, legal ramifications, […]
Tax Deductions Every Filipino Should Know
Taxation can undoubtedly feel like a heavy burden for many Filipinos, but it’s important to know that there are ways to ease this financial load. One such effective strategy lies in understanding and utilizing tax deductions. Employing these deductions can lower the taxable income, ultimately putting more money back in your pocket. In this article, […]
Cash Flow Management Strategies for Filipino Businesses and Personal Use
Mastering cash flow management is essential for every business to thrive. It serves as the backbone of operational efficiency, enabling businesses to fulfill financial commitments and drive profits. In the Philippines, 48% of MSME business owners face challenges in managing their cash flow. Many find themselves in a position where they need to borrow money […]