chette.com

Tag: small business

  • Computing for input VAT

    —

    by

    chette
    in

    The expanded value added tax increased the vat rate from 10% to 12%. When computing for your input VAT, the net amount is now divided by 1.12, instead of 1.10. The formula for getting the gross amount is derived below: Thus, if the net amount paid is P33.60: P30.00 is to be recorded as Expense,…

  • Reserving & registering your company name online thru SEC iRegister

    —

    by

    chette
    in

    SEC’s iRegister, among other things, allows you to reserve & register a company name online. Not that SEC actually needs it — the old-fashioned way is not a bad experience. SEC has one of the most efficient queuing systems, second to the MMDA. To access iRegister, visit the SEC website, and go to Online Transactions…