Is your business required to register with the Breau of Internal Revenue or are you required to get TIN in the Philippines?
In the Philippines, every person must register to the nearest Revenue District Officer (RDO) for the filing of taxes purposes. Registration in the Philippine will not take much of your time. There are simple steps on how to register or get your TIN (Taxpayer Identification Number) for just one day.get your TIN (Taxpayer Identification Number) for just one day.
Before you process your application for registration, you must read this article. It will help you to identify if you’re required to register your business or getting TIN.
Employed for the First Time
Getting hired for the first time would give you a great joy and fear. For the first two weeks of your employment, there is a lot of requirement needs to be accomplished. One of those is the Taxpayer Identification Number (TIN).
You must process your TIN number within ten (10) days from the date of your employment. But don’t be afraid of that, you can just give half day to process provided you have the complete requirements.
Establishing a New Business Firm
Before the commencement of your business, make sure your business is legally registered in the BIR to avoid any future penalties and closure of your business.
One Time Payment of Taxes in the Philippines
There are many taxes in the Philippines. Some of these taxes are paid annually, monthly, quarterly and one-time basis.
Discovery of Having Multiple TIN
In the Philippines, every taxpayer must possess one TIN only. Having multiple Taxpayer’s Identification Number should be reported to the nearest RDO. If you discovered that you have multiple TIN’s, make sure you report it to the BIR to avoid future penalties.
If you’re one of those persons, make sure you will not forget to register with the BIR to avoid any future problems òr charges. Having a legal business will avoid tax penalties during tax mappingavoid tax penalties during tax mapping in the Philippines.