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The Enhanced Business Name Registration System

12, Oct 2010

As part of our new government’s effort to facilitate faster and easier registration of single-owned businesses in the country, the Department of Trade and Industry has recently amended the revised implementing rules and regulations of the Business Name Law and came out with a department administrative order (DAO) that gave birth to the Enhanced Business Name Registration System (E-BNRS). The agency issued DAO 10-08 Series of 2010 last September 30, 2010 and had the E-BNRS online registration facility upped last October 6, 2010. The system will handle the registration of the business name (BN) of a person who is at least eighteen (18) years old, doing business or proposing to do business in the Philippines under a BN and who is not disqualified by any existing law or regulation to engage in business.

Itemized Vs. Optional Deductions On Income Tax

24, May 2010

Effective July 2008, the Optional Standard Deduction (OSD) is increased to forty (40%) percent for both individual and corporate taxpayers so a Filipino taxpayer can now decide whether he will stick to the old itemized deduction of expenses or use OSD in filing his income tax returns. Taxpayers who retain the services of knowledgeable bookkeeper or accountant must have been briefed on the advantages and disadvantages of the two (2) schemes. This article is intended for those who are doing their income tax returns by themselves so that they can intelligently decide on which method of deduction to use.

The Income Tax Of An I-Café Business

20, May 2010

April of each year is the time for computing, filing and paying the annual income tax derived from compensation and/or business of every citizen of this country including an i-café owner. Many questions are being asked in various forums regarding the subject and we will try to answer some of them in this article.


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