Latest in small businessNinety-eight percent of Filipino workers and their employers are in micro, small, and medium enterprises rather than large corporations, yet labor inspection and compliance resources of the Department of Labor and Employment (DOLE) have historically been concentrated on big companies, a mismatch…
The Bureau of Internal Revenue (BIR) has launched a One-Time Tax Abatement Program that allows micro taxpayers with annual gross sales of up to ₱3 million to clear up to ₱80,000 in pending tax liabilities and penalties per taxable year for a flat payment of just ₱5,000, BIR Commissioner Charlito…
President Ferdinand Marcos Jr. announced during his fifth State of the Nation Address (SONA) that the income tax exemption threshold will be raised from ₱250,000 to ₱350,000, giving workers a maximum additional take-home pay of ₱17,500, while micro and small businesses that are losing money or…
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