Minimize Cost in Accomplishing Your Payment Form 0605 for BIR Annual Registration
As the year ends, accountants are wrapping up their tax compliance for 2019 while gearing up for 2020. And this means taking care of the annual BIR registration fee of 500 PHP using BIR’s Payment Form 0605. This is a yearly renewal requirement for every taxpayer.
What is a BIR Form 0605?
This form needs to be accomplished every time a taxpayer pays taxes and fees which do not require the use of a tax return. One of which is BIR’s upcoming Annual BIR Registration for new business or renewals. Taxpayers are required to pay 500 PHP for the fee. On top of that, taxpayers have to factor in costs for transportation, food and time.
How to Minimize Cost for Accomplishing Form 0605?
However, did you know you can minimize your annual BIR registration cost? That’s right, you can save up even when duly following your company’s tax compliance (and they’ll surely thank you later)
Here are a few tax solution tips to help you get ready for Tax Year 2020: