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.
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exporters, freelancers, or micro, small, and medium enterprises (MSMEs)- have seemingly misinterpreted that the Act has repealed or removed the Input VAT Refund.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
Why Red Tape Still Slows MSMEs Down in the Philippines
Even after eight years have passed since the Ease of Doing Business and the Efficient Government Service Delivery Act of 2018 took effect to fix the red-tape issues—many business owners will tell you the same thing: whether you register, renew, or close your business in the Philippines, it would not
Guardians of Trust: Insights from the Mid-Year Motivational Talk 2026
“The numbers do not lie, but the people behind them can choose whether or not to tell the truth.” That is the quiet tension every accountant, auditor, tax expert, and business advisor faces every single day — and it is exactly what was tackled with Babylon2k’s esteemed partner, UHY M.L.
Excess CWT Refund Made Simple: A Step-by-Step Guide for Businesses
Every taxable year, numerous businesses in the Philippines tend to overpay their income tax through the means of withholding. The common unfortunate thing is that you may never see those overpayments because you do not know how to claim them back. Worry less, for the Bureau of Internal Revenue has
Pax Silica in the Philippines: Things Businesses Should Know
A New Economic Zone is Reshaping the Philippine Business Landscape A few days ago, you must have heard of Pax Silica, and you got here to look for reference on what it has to do with our economy and other factors. Indeed, it is a story you cannot really afford
Free Bank Transfer Fees? Here’s What You Need to Know about the BSP Memo
Probably a few days ago, you noticed something different: from the news on social media platforms or upon checking your own bank account as you try to send money via InstaPay — suddenly, the majority of Philippine banks have waived the transfer fee. Truly, it is somewhat driving people’s curiosity,