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July 12, 2024

EOPTA Revenue Regulations No. 2-2024: Release of Tax Updates

These rules are meant to improve transparency and make it easier for taxpayers to get the information they need.  Key Points Section 245(i) says that the BIR needs to prepare and share information about tax returns, reports, collections, and other relevant things using electronic means. This is so that taxpayers are always aware of their […]

EOPTA Revenue Regulations No. 3-2024: Implementation of VAT and Percentage Tax Amendments

The Secretary of Finance has issued Revenue Regulation (RR) No. 3-2024 to implement changes to the NIRC 1997 (Tax Code), as amended by Republic Act No. 11976, known as the “Ease of Paying Taxes Act”.  Key Changes in Terminology: Gross Sales –  will now be used for both goods and services instead of “gross selling […]

July 10, 2024

Strategic Insights: Php 35 Minimum Wage Increase in NCR

On July 1, 2024, the Department of Labor and Employment (DOLE) approved a Php 35 increase in the daily minimum wage for workers in the National Capital Region. The Regional Tripartite Wages and Productivity Board in the National Capital Region supported the petitions for the wage increase from various labor groups, including the Unity for […]

April 4, 2024

3 min mins read

STRATEGIC INSIGHTS: An Exploration of the Ease of Paying Taxes Law and Its Impact on Businesses

In a recent milestone on Philippine taxation, President Ferdinand Marcos Jr. signed the new Ease of Paying Taxes Law by President Ferdinand Marcos Jr. This landmark legislation marks a significant paradigm shift, bringing about a reclassification of taxpayers based on gross sales. Micro, Small, Medium, and Large enterprises now navigate a more nuanced framework tailored to their scale. 

3 min mins read

Unlocking Efficiency and Growth: The Case for Outsourcing Payroll Management with CloudCFO

Managing payroll can be a daunting task for small and medium enterprises (SMEs) and startups in the Philippines, plagued by a myriad of challenges that demand time, attention, and precision. One of the most significant hurdles faced by these businesses is manual payroll processing. While initially seeming cost-effective, relying on spreadsheets or basic tools becomes increasingly cumbersome and error-prone as the business expands. 

3 min mins read

Thinking of Expanding Globally? Here’s Five Questions PH Startups Need To Ask Before Going International

In this article, we aim to be your trusted companion on the journey towards successful international expansion. Whether you’re contemplating entering the Philippine market or expanding your operations to other global destinations, we understand the pivotal questions and uncertainties that accompany such endeavors. 

April 2, 2024

3 min mins read

Tax Changes You Should Take Note Of For 2024

Given the changes in several tax concerns, taxpayers may find it tedious and challenging to go about their reports for the BIR. CloudCFO, with its team of tax experts, can assist you in all things financial and tax reporting. 

3 min mins read

STRATEGIC INSIGHTS: Navigating the Impact of the Revised DOLE IRR on Service Charge Law

Navigating the intricate landscape of labor regulations in the Philippines demands a keen understanding of the recent revisions to the Implementing Rules and Regulations (IRR) on the Service Charge Law by the Department of Labor and Employment (DOLE). As businesses and financial leaders, it is imperative to grasp the strategic implications of these changes.

March 12, 2024

3 min mins read

Navigating Tax Changes: Understanding MCIT Rates for 2024

The Bureau of Internal Revenue (BIR) recently released Revenue Memorandum Circular 36-2024 on March 11, shedding light on the computation of Minimum Corporate Income Tax (MCIT) for the taxable year 2023.