AI in Accounting: Threat or Opportunity for Accountants?
Artificial intelligence is changing the way many jobs are done, including in the field of accounting. This new technology has the power to change how financial tasks are handled, raising questions about what it means for accountants. As AI gets better at doing complex calculations and spotting patterns, some wonder if it will replace human […]
Who Are Exempted From Tax In The Philippines?
Tax exemptions are special privileges afforded by the government that reduce or eliminate the obligation to pay certain taxes. The standards and qualifications for exemptions are determined by the Bureau of Internal Revenue (BIR). Entities entitled to tax exemptions are then issued with a Certificate of Tax Exemption (CTE), officially recognizing their exempt status. For […]
Understanding the Basics: A Comprehensive VAT Guide
If you’re running a business, you’re responsible for managing taxes, and value-added tax (VAT) is no exception. In the Philippines, VAT regulations are critical for ensuring smooth operations and financial stability. Failing to comply with these regulations can result in hefty fines, legal complications, and disruptions to your business. In this VAT guide, we’re here […]
Navigating Finances: Demystifying Withholding Tax
As a taxpayer, one of the biggest challenges you’ll face is understanding how withholding tax works. Withholding tax involves calculations based on your income, tax bracket, exemptions, and potentially adjustable credits, which can vary greatly from one individual to another, making it difficult to navigate without a deep understanding of tax laws and personal finance. […]
How To Compute Income Tax in the Philippines?
The tax season just ended, leaving many scratching their heads over the complex process of tax calculation. If you’re one of those who had a difficult time, this guide on how to compute income tax in the Philippines will make the next tax season smoother for you. It’s designed to help you understand the necessary […]
Green Finance: Investing In Renewable Energy For A Sustainable Future
Climate change is one of the most urgent challenges we face today, and it affects all of us. Governments, businesses, and individuals are taking action by adopting sustainable practices to help protect our planet and ensure a better future for everyone. At the heart of these efforts lies green finance. It’s a powerful tool that […]
SSS Salary Loan Guide and Contribution
The streamlined SSS salary loans are a lifeline during financial hardships, offering quick financial support when it’s most needed. These loans come with several benefits, including low-interest rates and flexible repayment plans. This makes SSS salary loans an attractive option for eligible SSS members. However, the process can still be overwhelming for some due to […]
Why Your Business Needs Audited Financial Statements
Accurate financial statements can make or break your business. In a recent survey involving 1,100 C-level executives and finance professionals in the United States, 40% of respondents said that inaccurate financial statements could increase their business debt, and 42% expected serious damage to their reputation. This shows how important reliable financial reporting is.Financial statements assess your […]
PBBM Signs The Tatak Pinoy Bill Into A Philippine Law (RA 11981)
In a groundbreaking moment, President Bongbong Marcos (PBBM) officially signed the Tatak Pinoy Bill into law on February 26, 2024, firmly establishing its presence within the Philippines’ legal framework. This significant event highlights efforts to protect the country’s cultural heritage and foster growth for the business community. The law aims to safeguard traditional practices, languages, […]
Odysseus Lander’s Financial Impact After a Moon Landing Touchdown
The Odysseus Lander, or “Odie,” landing on the moon is a groundbreaking event that marks a huge advancement in space exploration and puts Odie in the spotlight as a symbol of global innovation, influencing moon landing funds. Industries across various sectors eagerly await the economic opportunities ahead. Investors are actively pursuing space ventures, while economists […]