Is Christmas bonus the same as the 13th month pay? How do they differ from each other? Well, to answer the first question – No. Christmas bonus is different from the 13th month pay of your employees, and one is mandatory by the law, while the other is under your discretion as the employer. You…
With people required to stay confined in the four walls of their home, Filipinos have set in motion a number of online business trends. In less than a year, with what seems to be an endless guessing game on our quarantine status at that, people managed to find other sources of income. It’s true when Napoleon Hill said “a resourceful person will always make opportunity fit for his needs.”
Even before the COVID-19 pandemic, more and more Filipinos have geared towards being entrepreneurs, and it’s no longer a surprise because most of us are skillful, and most of all, willful in earning extra while following his or her own passion.
However, as easy as it may sound to just follow what your heart’s desires when starting up a business, many are unaware of the regulatory requirements that must be met by any startup business in the Philippines, especially that of BIR registration.
Establishing an association, partnership, or a corporation in the Philippines begins by completing the business registration with the Securities and Exchange Commission (SEC), the mandated government agency to supervise the corporate sector in the country. Before one can fully operate and start transactions with clients, an enterprise must submit all the necessary business documents that are requisites of any certificates needed in securing permits from other government agencies.