The BIR has issued Revenue Memorandum Circular (RMC) No, 78-2022, dated June 8, 2022, to clarify the tax treatment and other tax compliance requirements of the different classifications of educational institutions referred to in the National Internal Revenue Code of 1997, as amended (Tax Code). This RMC covers the following educational institutions: In connection with the foregoing, the RMC also provides the following tax treatments for these educational institutions: A. Inco

It's a NEW YEAR! If you're a business owner whose been through years in your operations, this may not be new to you, but if you're a newly registered business, this may come to you as a surprise -- A new year comes with a full load of compliance requirements! Aside from the regular monthly and quarterly requirements that you're complying with, there are additional requirements that a business must comply with annually. We've summarized here a checklist of the 10 annual compli

Never have I ever is a game in which players take turns in asking other players about certain things or actions that they have never done yet. Any player who has done an action will do a consequence. This real-world game has been brought to the digital sphere by content creators and has been a staple in different social media platforms as a source of light and funny contents. But in recent months, these content creators as well as other social media personalities, seem to be

Your books of accounts should serve as the official record for financial overview and control over your business.