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#AskTheTaxWhiz: Tax on Valentine’s?

The Philippine Tax Whiz answers questions about donor’s tax, sending gifts to loved ones through balikbayan boxes, and value-added tax. I work for a BPO company in Ortigas. This Valentine’s Day, I wish to give my mom a branded bag but I read in your previous article that even gifts are taxable. So, will my […]

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Tax advocate to OFWs: Time to go home

Filipinos are Filipinos, wherever they chose to be in for the sake of their family’s sustenance. But the “Bagong Bayani,” of course, would serve the country better—and would have closer ties with their families—should they decide to build their lives on home soil. This was what The Philippine Tax Whiz Mon Abrea and CSR Philippines […]

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Fixing the Tax System

How do we fix our tax system when taxpayers are in cahoots with tax collectors? Not paying the right taxes is wrong. Bribing examiners makes it even worse. But hiring professional fixers like accountants and lawyers to negotiate tax assessments with examiners makes it a hopeless situation. Instead of paying the right taxes, we bribe […]

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Tax reform in the limelight

As the new administration begins to make its mark, the opportunity to initiate changes in the way things work in government is up for grabs. President Duterte’s 10-point socioeconomic agenda, for one, paves the way for age-old issues, such as those of the tax system, to gain traction and be addressed.   It has been […]

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#AskTheTaxWhiz: BIR Deadlines, etc.

The Philippine Tax Whiz reminds all businesses and professionals of a number of BIR deadlines this January and other requirements for renewal of business permit. I have a startup company which was registered last year. Is it true that even if I have not fully operated my business I will comply with all the BIR […]

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Tax restructuring 101

Convenience of taxpayers must be the government’s top priority. Promoting honesty and integrity in paying taxes must be at the core of the genuine tax reform in the Philippines—a simpler, fairer and more efficient tax system as described earlier by Finance Secretary Carlos Dominguez III. The convenience of taxpayers must also be the highest priority […]

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Tax Academy

#AskTheTaxWhiz: Top 10 common violations of startups

The Tax Whiz sums up the most common violations of startups and the corresponding penalties. In connection with the top 10 frequently asked tax questions startups ask, here’s the other side: the most common tax violations and what startups could lose. In relation to BIR registration requirements: 1. Failure to register the business with BIR […]

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DTI Seal of Honesty

#AskTheTaxWhiz: Top 10 frequently asked tax questions by startups

The Tax Whiz tackles everything entrepreneurs need to know about taxes, including whether taxes are due even if a company is unprofitable, local business taxes, and important deadlines. 1. What are the taxes I need to pay as a startup? There are at least 3 types of taxes you need to pay: (1) income tax […]

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