Insights and blogs
May 19, 2025
While filing business taxes isn’t exactly the most exciting part of running a business, our Ka-Negosyos know it’s one of the most important. Staying on top of tax obligations isn’t just about following the law, it’s about setting your business up for long-term success.
When you file the right taxes on time, you avoid penalties, build credibility with partners and clients, and keep your finances in check. This guide breaks it all down for you: the types of taxes you need to know, when they’re due, and simple tips to help you manage or fund your payments, especially during crunch time.
It’s easy to feel lost because of all the forms, deadlines, and acronyms. That’s why we’ve created this quick rundown of the most common taxes small and medium enterprises (SMEs) like yours need to deal with. From the rates to the forms to the filing flow, here’s an easy table you can save to help you stay compliant without missing a beat.
Tax Type | Rate / Fee | Filing Frequency | BIR Forms to File |
|---|---|---|---|
Income Tax | 20% (for income up to PHP 5M and assets under PHP 100M) | Quarterly and Annually | Quarterly: 1701Q / 1702Q |
Minimum Corporate Income Tax (MCIT) | 2% of gross income (from 4th year) | Annually | 1702-MX |
Value-Added Tax (VAT) | 12% if annual sales exceed PHP 3M | Monthly and Quarterly | Monthly: 2550M Quarterly: 2550Q |
Percentage Tax | 3% of gross sales (for non-VAT businesses earning below PHP 3M) | Quarterly | 2551Q |
Withholding Tax | Based on compensation or supplier payments | Monthly and Quarterly | Monthly: 1601C / 1601E
Quarterly: 1604CF / 1604E |
Annual Registration Fee | PHP 500 | Annually (January) | 0605 |
No matter what kind of tax you’re filing, the steps usually follow the same rhythm. Here’s a simplified flow that applies to most tax types:
1. Compute your tax due – Make sure your records are updated so you can calculate accurately.
2. Fill out the correct BIR form – Use the form specific to your tax type and filing period.
3. File your return – Submit it online via the BIR's eFPS or manually at your Revenue District Office (RDO).
4. Pay your dues – Settle your taxes through accredited banks, online channels, or payment platforms.
Keeping this flow in mind can help you stay organized and confident each filing period.
Managing tax payments while keeping your business running smoothly is no easy feat, especially for hardworking Ka-Negosyos. Big quarterly dues, unexpected penalties, and tight timelines can strain your cash flow and disrupt operations. But there’s a smarter way to stay on track.
With BPI Ka-Negosyo Loans, you can take care of your tax obligations without pausing your progress.
These business-friendly loans are designed to help you:
- Access Funds Fast – Get quick approval so you can settle your tax dues on time.
- Keep Operations Running – Cover payments without touching your reserves or cutting into growth plans.
- Enjoy Flexible Terms – Whether it’s a big quarterly deadline or a surprise penalty, you can manage it with ease.
How It Works:
- Apply Online – Use the Ka-Negosyo On The Go digital platform to submit your application.
- Upload Documents – Submit your basic business requirements.
- Get Funded – Receive the loan directly to your account and handle your tax payments with confidence.
With BPI Ka-Negosyo Loans, you can take care of your tax obligations without pausing your progress.
Keep Your Taxes in Check with BPI Ka-Negosyo Loans
You’ve worked hard to build your business, don’t let taxes disrupt your progress. BPI Ka-Negosyo Loans are here to keep your cash flow smooth and steady, so you can meet your tax obligations without pausing operations, dipping into reserves, or sacrificing growth opportunities. For added ease, tools like Taxumo can help you compute and file your taxes more efficiently.
Just remember: BIR deadlines typically fall in April, July, October, and January—so mark your calendars and stay ahead. With the right tools and a trusted financial partner, you’ve got this, Ka-Negosyo!
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