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In this day of modern technology, online transactions are a part of daily life. One can easily shop at online marketplaces, request food delivery, and book resort or hotel accommodations without being physically present at the merchant store. Hence, due to the increasing number of sales transactions conducted through online platforms, there is a need to create fair competition and equitable tax collection between physical stores and those operating on digital platforms.

The new year symbolizes a new lease in life and an opportunity to start fresh from the mistakes we’ve learned in the previous year. Surely, a lot of people are looking forward to kickstarting 2024 with a bang.

“I hope that in this year to come, you make mistakes. Because if you are making mistakes, then you are making new things, trying new things, learning, living, pushing yourself, changing yourself, changing your world. You're doing things you've never done before, and more importantly, you're doing something.” from The Sandman, by Neil Gaiman. I personally agree with the said quote from my favorite book, but when dealing with the Bureau of Internal Revenue (BIR), mistakes in computing your tax dues and filing your returns, are the last thing you want to commit as they are tantamount to deficiency taxes and penalties for the BIR.

Since the pandemic, there have been an increasing number of Filipinos using the internet for their shopping needs. Buying and selling online is now becoming a trend in our country. Unfortunately, some people are also taking advantage of this season to boost their sales or income by resorting to false advertising, especially on social media. Hence, consumers should be vigilant when buying online.

2024 is almost on our doorsteps, but many things are still happening around us. Most are planning for their annual family reunion or Christmas parties; almost all the employees are looking forward to the upcoming Christmas break; while some are still thinking about the “big celebrity break-up” that was announced days ago.

“An ounce of prevention is worth more than a pound of a cure.” At any stage of the tax assessment process, complications will surely arise when the notices and requests from the Bureau of Internal Revenue (BIR) remain unheeded.

The Ease of Paying Taxes (EOPT) bill, with the main objective of tax modernization and high but easy tax compliance, was recently approved by a bicameral committee. According to Senator Win Gatchalian, EOPT is expected to drive foreign direct investments (FDIs) and enhance the country's competitiveness as an investment destination.

The Philippine tax system operates on the territoriality principle. This means that the power of the Philippine government to tax is limited within the territorial bounds of the Philippines. This rule emphasizes the importance of establishing a situs within the Philippines before income can be taxed. So, what happens when part of the source of income is located in outer space? Does the Philippines have any right to tax such income generating activities? Turns out that the answer is yes.