Category Archives: Tax
Nine-dash line: An insight into the “Barbie” movie controversy, compliance, and taxation in the Philippines
The recent “Barbie” movie controversy sparked international dialogue, entangling entertainment and geopolitics into a heated discussion about the contentious “nine-dash line” claim by China in the South China Sea. While Vietnam decided to keep the film’s magic away from its screens, the Philippines, after a meticulous review process, opened its cinemas to welcome Barbie’s adventure. […]
Lazada, Shopee and Online Platform Merchants are Reminded of their Tax Obligations
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 […]
The Power of Tax Residency: A Guide to Maximizing Your YouTube Earnings
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 […]
Streamlining VAT Refund Process for Enhanced Efficiency and Compliance
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 […]
BIR Makes VAT Refunds Easier
In the Philippines, a sales tax known as value-added tax (VAT) is levied on commodities purchased, bartered, exchanged, or leased and imported products. The Bureau of Internal Revenue (BIR) has reduced the standards taxpayers must meet to receive a VAT refund. In a revenue memorandum circular, BIR commissioner Romeo Lumagui ordered simplifying documentation requirements and […]
Boosting the Philippine Creative Industries
Republic Act 11904 or ‘The Philippine Creative Industries Development Act’ Republic Act (R.A.) 11904 or ‘The Philippine Creative Industries Development Act,’ which was passed into law on July 27, 2022, mandates the promotion and development of Philippine creative industries by protecting and strengthening the rights and capacities of creative firms, artists, artisans, creators, workers, indigenous […]
Avoiding Tax Penalties in the Philippines
You finally got a hold of your sweet, hard-earned money. As a reward, you treated yourself to a nice, quick travel vacation and saved the rest to your savings. Sounds ideal, but you forgot one tiny detail… you forgot your taxes. That’s okay. There’s a next time. It’s just a small penalty fee. No need […]