TAX Filing & Payment Compliance

Taxes are lifeblood of our government. Without it, the government will be paralyzed and cannot do its functions to the public. However, as taxpayers, we should be aware and knowledgeable of the tax information relevant to our businesses before paying taxes to the Bureau of Internal Revenue (BIR). This will help us not only to comply correctly but to avoid unnecessary tax penalties.

. In compliance with the VAT law implemented by the Bureau of Internal Revenue (BIR), taxpayer-sellers are required to pay VAT, after deducting allowable input tax credits and other adjustments. However, during the period of VAT compliance with the BIR, taxpayer-sellers may encounter some tax problems resulting in violations and hefty penalties.

Upon initial registration with the BIR, you will choose what business tax type you will register. It is either a Percentage Tax or a Value-Added Tax (VAT). In case you register the tax type Percentage Tax, we will discuss some of the corresponding possible violations to avoid the unnecessary penalties imposed by the BIR.

Every taxpayer, including our company, has some tax violations and paid the corresponding penalties. We will tackle taxpayers’ top 5 common mistakes and how to solve each to avoid these violations and penalties.

As taxpayers, we want to reduce our taxes to save more profits to invest in our business operations.