From Receipts to Returns: The VAT Impact of Reimbursements and Advances
Reimbursements and Advances: What’s the Difference? In a typical business setup, reimbursements and advances occur to ensure smooth operations while balancing convenience and accountability. Reimbursements usually happen after an employee incurs a business-related expense personally, covering costs such as travel, meals, office supplies, or client entertainment which are commonly immaterial in nature. On the other […]
Where Should You Pay? Navigating the Proper Situs of Local Business Taxes
For businesses operating across multiple locations in the Philippines, one of the most frequently misunderstood, and often contested, issue in local taxation is the proper situs of local business taxes (LBT). While national taxes are generally governed by uniform rules, LBT is imposed and administered by local government units (LGUs), each with its own tax […]
