Category: Accounting & Taxation

The Best LifeHacks in Setting Up Your Business in the Philippines

In early 2010, I migrated to the Middle East to start working as an auditor and business process consultant for a Saudi steel company and its subsidiaries. The benefits offered was overwhelming that I thought it was a once in a lifetime opportunity for me to hone my craft overseas while having the privilege to bring my family with me.

A few months later, the law for labor localization in Saudi Arabia was implemented. This prompted me to start a few business startups in the Philippines that would help provide new sources of income for my family in case my contract abroad expires.

All of a sudden, I realized that I would need to manage my online and offline businesses remotely since my overseas job contract was renewed for another 3 years.

Good thing there were several digital tools and hacks that helped me to start and manage both my online and brick-and-mortar businesses even through I was away from home.   Continue reading The Best LifeHacks in Setting Up Your Business in the Philippines

5 Benefits of Filing Taxes in the Philippines (For OFW Entrepreneurs & Balikbayans)

Filing and paying taxes in the Philippines is one of the most physically- and mentally-demanding activities that self-employed professionals have to endure on a regular basis.

It’s even more worrisome for OFWs with businesses back home who can not tend to all the duties and responsibilities that a Philippine-based entrepreneur normally enjoys. Continue reading 5 Benefits of Filing Taxes in the Philippines (For OFW Entrepreneurs & Balikbayans)

Filing and Paying Taxes Made Easy for the Pinoy Freelancer

Many of my friends envy me as a freelancer. My neighbors, on the other hand, wonder how come I don’t leave the house every morning like other Dads do yet still afford to drive our car anytime we want. You can read their minds asking themselves, ‘how in the world is he getting the money to gas up his SUV when he’s a bum?’

In a way, a freelancer’s daily routine is a reason to be jealous of. Imagine a life that’s alarm clock-free, no rush hour commute, and short pants and tees instead of a business attire. You take control of days answering to no one but your own impulses, interrupted only by siestas, or, when the occasion calls for it, playtime with your kids.

This must be the reason why many Filipinos are choosing to get outside of the 9-to-5 route and become entrepreneurs. At this particular time, there are already over a million registered small-to-medium enterprises (SMEs), freelancers, and self-employed professionals in the Philippines, making up 99% of the total business establishments operating in the Philippines. Continue reading Filing and Paying Taxes Made Easy for the Pinoy Freelancer