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 […]
Babylon2k Applauds the “Tatak Pinoy” Act: Empowering Filipino Businesses and Elevating Local Brands
As a firm dedicated to supporting the Filipino business landscape, Babylon2k is excited to celebrate the recent enactment of the “Tatak Pinoy” Act (RA 11981). This legislation represents a significant step forward in fostering a thriving ecosystem for domestic enterprises. Key Provisions of the “Tatak Pinoy” Act: Benefits and Initiatives: Alignment with SIPP 2020 and […]
Revenue Memorandum Circular 19-2024: Understanding the Tax Treatment of Interest Expense
The Bureau of Internal Revenue (BIR) of the Philippines recently issued Revenue Memorandum Circular (RMC) No. 19-2024, providing valuable clarification on the tax treatment of interest expenses. This circular aims to guide individuals, businesses, and tax professionals in understanding the proper recognition, capitalization, and deduction of interest expenses for tax purposes. Importance of Understanding Interest […]
Babylon2k Reigns Supreme: Back-to-Back Champions in the BPBL!
The hardcourt witnessed another thrilling moment as UHYMAC, one of Babylon2k’s trusted partners, emerged victorious in the Business Professionals Basketball League (BPBL) finals on February 25, 2024. This win marks not just a championship but a dominant repeat for the team, having also won the first season. The game was thrilling from the opening tip-off, […]