Author Archives: admin

In the era of globalization, the world is witnessing a profound transformation in the way financial transactions are conducted. Cryptocurrency has emerged as a disruptive force with the ability to transform the global economy as it opens up new channels for cross-border transactions, investment opportunities, and financial inclusion as old barriers to commerce and finance […]

Mark your calendars for August 25, 2023, from 1:00 PM to 6:00 PM, as UHY MAC presents an empowering experience like no other – our highly anticipated 2023 Mid-Year Motivational event! As part of our unwavering commitment to empower our team, UHY MAC is thrilled to invite you to a transformative journey to set the […]

The digital revolution has transformed the business landscape in the Philippines. E-commerce platforms like Lazada, Shopee, and Zalora have made buying and selling goods and services more accessible. But with these new opportunities come new tax obligations. Understanding your tax responsibilities is crucial whether you’re a merchant selling your products online or a platform provider […]

Understanding your tax residency can be a game-changer in international taxation, especially for digital content creators like YouTubers. But what exactly is tax residency, and how can it help you keep more of your hard-earned money? Tax residency refers to the jurisdiction (or jurisdictions) where you are considered a resident for tax purposes. This is […]

In the digital age, the world is at our fingertips. We are more connected than ever, from streaming our favorite shows on Netflix and using A.I. services like ChatGPT to subscribe to software licenses from Microsoft or Google. But have you ever stopped to consider these digital transactions’ tax implications? In international taxation, the place […]

As a business owner in the Philippines, it is important to understand the concept of beneficial ownership. In simple terms, a beneficial owner is someone who has the right to enjoy the benefits of ownership of an asset, even though the legal title is held by someone else. In this guide, we will discuss the […]

The golden sands and emerald waves of Phuket’s SAII Laguna Resort provided the picturesque backdrop for our enlightening journey – the UHY Regional Meeting from July 12 to 14, 2023. Hosted by UHY Yongyuth Accounting & Son Co. Ltd & UHY International Executive Office, encompassing the theme “UHY Re-building Good Working Relationships in the Asia […]

In accordance with Republic Act (RA) No. 11032, also known as the Ease of Doing Business and Efficient Government Service Delivery Act of 2018, government agencies now use technology to improve accessibility for the general public and streamline processes. Consistent with the law, the BIR’s journey toward digital transformation has now advanced with the implementation […]

The Value Added Tax (VAT) refund application process is now more convenient for the taxpayer through the recent issuance of Revenue Memorandum Circular (RMC) No. 71-2023 and Revenue Memorandum Order (RMO) No. 23-2023 both effective July 1, 2023.  The following are notable changes in the filing of VAT refunds:  Before RMC No. 71-2023 and RMO […]

When a non-resident investor is planning to purchase foreign exchange (FX) from the Philippine banking system for repatriation and remittance of earnings from duly registered investments, they are required to obtain a Bangko Sentral Registration Document (BSRD).  The BSRD is issued by the Bangko Sentral ng Pilipinas (BSP), evidencing the registration of foreign investments by […]