Updates

Comprehensive guide to BIR's Online Registration and Update System (ORUS). Learn about key features for tax registration, updates, and online services. Essential information for Filipino taxpayers and businesses using ORUS for BIR compliance.

A One-Person Corporation (OPC) is a business entity that allows a single individual to establish a corporation. This structure was introduced in 2019 under the Revised Corporation Code of the Philippines, eliminating the need for multiple shareholders or a board of directors.

De minimis benefits are facilities and privileges given to employees by their employers that are not subject to income tax and withholding tax on compensation income. They are intended to support and promote the health, goodwill, and morale of employees. The term "de minimis" comes from the Latin phrase "de minimis non curat lex," which means "the law does not concern itself with trifles." In other words, de minimis benefits are relatively of small value.