BABYLON2K CHRONICLES
Audit Trails and Financial Tales
Welcome to a realm where numbers come to life, and financial tales weave a narrative that goes beyond the balance sheets, unlocking the secrets of Babylon2k’s financial universe.
How To Apply for a Pag Ibig Multi-Purpose Loan Online (MPL)
Applying for a Pag-IBIG Multi-Purpose Loan (MPL) has never been easier! Gone are the days of standing in long queues and navigating through piles of paperwork. Today, all you have to do is complete all the requirements and apply directly on Pag-IBIG’s official website. This streamlined online process allows you
How to Decide: Electing Leaders and Choosing Tax Strategies
As May arrives, Filipinos face a dual decision: selecting their local leaders and choosing a tax strategy that impacts their financial future. With the midterm elections approaching, voters are not only electing mayors, congressmen, and senators but also deciding between the 8% Income Tax Rate (EITR) and the 40% Optional
Paying Taxes with Credit, Debit, or Prepaid Cards in the Philippines: What You Need to Know Under RR No. 3-2016
The Bureau of Internal Revenue (BIR) of the Philippines has taken a significant step toward digital convenience with the issuance of Revenue Regulations (RR) No. 3-2016, allowing the voluntary payment of taxes using credit, debit, and prepaid cards. This regulation offers flexibility and modernizes the tax payment process, but also
Is Service Charge Due to Employees Taxable in the Philippines?
In the Philippines, service charges collected by establishments such as hotels and restaurants are considered part of the cost of the food, goods, or services ordered by customers. Under Republic Act No. 11360, which amended Article 96 of the Labor Code, these charges must be fully and equally distributed among
Are Properties Sold by Real Estate Businesses Always Classified as Ordinary Assets?
Selling Property? The BIR Has Drawn a Clearer Line in the Sand. Under Revenue Memorandum Circular (RMC) No. 31-2025, the Bureau of Internal Revenue (BIR) is tightening its stance on how real properties sold by those habitually engaged in the real estate business are classified and taxed. The distinction between
RR No. 03-2025: A Game-Changer for VAT on Digital Services in the Philippines
Think back to the last time you streamed a show, downloaded an e-book, or subscribed to a cloud service. Taxes probably weren’t top of mind—but now, these digital activities carry new tax implications. In response, the Philippine government introduced Revenue Regulations No. 03-2025. This regulation aims to establish a fairer
RR 9-2025: The New VAT Rules Every Business Should Know
Picture this: you’re a business owner working with suppliers inside economic zones or freeports, and you find yourself caught in a maze of unclear VAT rules. Who’s responsible for paying VAT? When should it be remitted? To resolve this confusion, the Bureau of Internal Revenue (BIR) recently released Revenue Regulations