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
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
PEZA M.C. No. 2025-020: Streamlining VAT Zero-Rating for Export Enterprises
Why Was This Circular Issued? In the past, VAT zero-rating rules for Registered Export Enterprises (REEs) under PEZA lacked clarity. Companies often found it difficult to determine which local transactions qualified for VAT zero-rating, resulting in confusion, compliance challenges, and inefficiencies. For instance, necessary services like janitorial or marketing were
The CREATE MORE IRR Opens More WFH Opportunities for BPO Employees
The recent implementation of the CREATE MORE IRR marks an important moment for the BPO sector in the Philippines. This legislation introduces significant benefits, particularly in taxation and work-from-home (WFH) arrangements, designed to enhance operational flexibility and competitiveness. WFH Opportunities for BPO Employees Under the signed CREATE MORE IRR, BPO
How the CREATE MORE Act Helped a Hospitality Company Maximize its Tax Benefits
Overview A leading hotel and convention center operator, recognized as a Domestic Market Entity (DME) under Tier 1 of the Strategic Investment Priority Plan (SIPP), is leveraging tax incentives within a designated economic zone. With the implementation of the CREATE MORE Act of 2024, significant amendments have been introduced that impact