Taxing Towards Tomorrow: The Philippines' Tax-Driven Journey towards Sustainability
Let's Talk Tax Taxing Towards Tomorrow: The Philippines' Tax-Driven Journey towards Sustainability
One could say that the power of taxation is the lifeblood of a nation; not only does it have the power to create, but it also has the power to destroy. Being its primary source of revenue, it funds governments, making them self-sufficient as much as possible and diminishing their reliance on external funding to achieve their goals.
EOPT is here: Updates on CAR Application
Let's Talk Tax EOPT is here: Updates on CAR Application
In the Philippines, transferring property ownership, such as real properties and shares of stocks not traded through the local stock exchange, involves several steps to ensure a lawful transfer of title from one party to another and avoid any disputes or complications in the future.
Almost there: VAT on digital services
Let's Talk Tax Almost there: VAT on digital services
Last week, the Senate, in a unanimous vote, approved on third and final reading the Senate Bill (SB) No. 2528 that seeks to impose a 12% value-added tax (VAT) on digital services delivered by either resident or nonresident digital service providers with no physical presence in the Philippines.
Invoicing Requirements under the EoPT Act
Let's Talk Tax Invoicing Requirements under the EoPT Act
In our earlier article, “Removal of the 5-Year Validity of Receipts and Invoices,” I explained that the Philippine tax system is mostly driven by supporting documents and that the deductibility of allowable expenses and claiming of input value-added tax (VAT) rely heavily on valid invoices.
EoPT dates to remember for CAS taxpayers
Let's Talk Tax EoPT dates to remember for CAS taxpayers
One famous motto says, “Prevention is better than cure.” This saying is applicable to one’s everyday life. It is always better to avoid further damage than to be sorry about it in the future.
The IRRs of Ease of Paying Taxes Act
Let's Talk Tax The IRRs of Ease of Paying Taxes Act
The passage of the Ease of Paying Taxes (EOPT) Act, or Republic Act No. 11976, sparked hope among taxpayers, envisioning a smoother journey in navigating tax-related complexities.