BETTER 2 KNOW
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.
Hormuz Crisis and Filipino Seafarers: How Manning Agencies Can Keep Resilient
Situation as of writing on October 14, 2026. Conditions in the Gulf and DMW rules change quickly, so confirm the latest advisories before making decisions. The Strait of Hormuz has not been in a good position for several months, as shipping through it has been blocked since February 2026, when
BIR Business Closure Made Simple: A Guide to RMC 47-2026
In many cases, shutting down a business was rarely easy, and as years have passed, the paperwork with the Bureau of Internal Revenue (BIR) has added a layer of difficulty. Several owners just stopped operating and assumed that was the end of it all—but it wasn’t, as unclosed business registrations
Unplug, Harmonize & Yield: What the 2026 UHY Managers and Partners Retreat Taught Us
An insightful article from one of our esteemed partners – UHY M.L. Aguirre & Co., CPAs Every busy season, firms like ours run like a machine: deadlines, filings, and other client requests—so stepping away from the routine, even for a day, can feel like a luxury. That’s why the UHY
Running a FinTech or OPS in the Philippines? Here are the Things You Should Do
Insights from Michael L. Aguirre, CPA, MBA, MST, Founder of Babylon2k, following his attendance at the Bangko Sentral ng Pilipinas (BSP) Operators of Payment Systems (OPS) Conference on August 24, 2026, at the BSP Assembly Hall in Manila. The Financial Technology (FinTech) landscape in the Philippines is truly growing fast.
RMC 97-2026: Things You Need to Know About Removing VAT on System Loss Charges in Electricity Bills
The Issuance of RMC 97-2026 Last September 14, 2026, the BIR issued Revenue Memorandum Circular (RMC) No. 97-2026, formally aligning with the position of the Energy Regulatory Commission (ERC) under ERC Resolution No. 26-2026—making the “allowable system loss charge” on electricity bills (subject to the ERC-approved cap) to be treated
OFW Income Tax in the Philippines: Do You Need to File an ITR?
If you are an Overseas Filipino Worker (OFW) or have family members working abroad, you will probably wonder if they still have to pay taxes in the Philippines. There are others who say that OFWs are absolutely exempt, while others insist that you have to file something every year. Meanwhile,
SEC Incorporating New FS Rules: Updates You Should Know
As the “ber” months are around, while others think of the nearing Christmas Holidays, several business owners are already gearing up for another round of compliance and filings with the Securities and Exchange Commission (SEC). Without a doubt, a year passes by with several regulatory updates or the adoption of
Input VAT Refund in the Philippines: The Effect of CREATE MORE
As the Republic Act 12066, or the CREATE MORE law, has become effective, some businessmen—especially those who have VAT Zero-rated sales, such as Philippine exporters, freelancers, or micro, small, and medium enterprises (MSMEs)- have seemingly misinterpreted that the Act has repealed or removed the Input VAT Refund. Some business owners
SONA 2026: Business Updates You Should Know
Every year, the State of the Nation Address (SONA) forecasts how the Philippine economy will take its next steps, and this year was indeed a notable one. With President Marcos Jr. delivering his 5th SONA last July 27, 2026, there are several agendas that surely have an impact on every