Here are some key changes that I\’d like to point but you can find more in the link below
Big changes are coming this year 2024. The Bureau of Internal Revenue is now classifying taxpayers into micro, small, medium, and large categories.\”
Good news for micro and small taxpayers! Your income tax returns are now simpler with a maximum of two pages instead of four. Plus, enjoy reduced penalties.
Filing and paying your taxes has never been easier. Choose from electronic or manual filing methods and make payments directly to the BIR, through authorized banks, or via tax software providers. And registering with the Revenue District Office? It’s just a click or a visit away
VAT invoicing is now simplified unlike before that invoicing is only for goods and OR for services. Registrations are now simpler, without the need for a business style. Plus, say goodbye to the annual Php500 registration fee!