Online Tax Assistance Platform Taxumo is the First Digital Startup to Get Four-Year Tax Holiday from BOI

Wazzup Pilipinas!

As part of the government’s thrust to spur the digital startup industry and technological innovations in the Philippines, pioneering online tax assistance platform Taxumo was recently granted a four-year income tax holiday so it can focus its resources on growing its business. 

This recent move makes Taxumo the first digital startup firm approved by the Board of Investments (BOI) under the 2017 IPP (Investment Priorities Plan.) 

Taxumo is an easy online tax filing and payment web app that revolutionizes tax processing for Filipino solo entrepreneurs, self-employed professionals, and freelancers. Says EJ Arboleda, Taxumo’s CEO: “We are grateful that the BOI has given the attention to Taxumo, which sets a precedent for the tech startup industry to get the support it needs to move forward, which in turn will generate jobs and ease business operations. We are proud to be leading the way for the industry.” 

“Digitalization is a great equalizer that levels the playing field among small and large firms. Adopting an innovation-led business model, like the integration of digital strategies and e-commerce, enables MSMEs to scale-up their status and become competitive in the long run,” Trade Secretary and BOI Chairman Ramon M. Lopez said. 

“We must effectively tap the potential of MSMEs as it forms a significant part in of our country’s growth resurgence and nurturing them not just as backbones of our economy but also one of the prime movers of both domestic and regional growth.” 

Trade Undersecretary and BOI Managing Head Ceferino Rodolfo said: “BOI supports entrepreneurial startups as an engine for economic development and as a key driver of economic diversification and job creation. While the Philippine start-ups sector is at a nascent stage, our large young internet-savvy population and growing economy make the country a hot-bed for technology-driven activities.” 

He stressed “the need to have a forward thinking mentality that is anchored on providing entrepreneurs and startups with the necessary support to start and grow right from the earliest stages of development.” 

Through Taxumo, users simply enter their income and expenses in the system regularly, which then provides real-time information on tax dues. 

The platform also autofills the relevant tax forms (BIR Form 2551M for Monthly Percentage Tax Payments, Form 1701Q for Quarterly Income Tax Payments, and soon, Form 1701 for Annual Income Tax Payments) with calculations based on the data entered by the user. 

From there, they can easily file and pay their tax dues online through Taxumo as well. Users can avail of paid subscription packages on the platform, depending on their needs.

 

See other tax return options here

Debunking Outsourcing Myths

Wazzup Pilipinas!Outsourcing is an emerging strategy used by many organizations today to keep their business operations efficient and profitable.

Outsourcing allows companies to assign certain business operations to outsourcing firms rather than accomplishing it internally, thereby, reducing manpower expenses and other operational costs without sacrificing operational efficiencies.
However, despite its obvious benefits, there are still some companies that do not yet fully appreciate the advantages outsourcing brings to a business. In fact, they often look at the practice as an added expense rather than an opportunity to cut costs. 

Prople, Inc., one of the leading business outsourcing companies in the country, lists some misconceptions about outsourcing and what are the truths behind these myths.

1.    Outsourcing can only reduce costs

Truth be told, outsourcing primarily reduces costs.  However, this is only one of its many benefits. Outsourcing also helps increase productivity because the personnel assigned to the task is usually highly trained for the job. This means that less or no training is needed for the task to be done. In the long run, it increases efficiency and productivity because it allows companies to focus on their core business instead of spending time, effort, resources and manpower on these processes.

2.    It saves money but the quality of the services are at risk

When a job is outsourced, it is assigned to a group of people with the prerequisite skills set. This means that the people working on the job are experts who know what needs to be done, thus, reducing the chances of poor work quality.

3.    Less management control over the specific task and results

Even if the job is outsourced, it doesn’t mean that clients have no control of the output or the outsourced staff. It is a standard among BPO firms to guarantee timely and specific deliverables ensuring that the integrity of the output is maintained and that the staff assigned perform at excellent levels at all times. Companies that outsource usually interface regularly to make sure that the quality of the work is sustained.

4.    SMEs cannot benefit from outsourcing

While outsourcing seems to be done mostly by large companies, what many don’t realize is that small and medium sized enterprises (SMEs) can benefit better from outsourcing. Hiring people will mean that resources are allocated for salaries, benefits, and other mandatory government payments. Outsourcing takes away the need to pay the required salaries as the fees paid to an outsourcing firm are based on a specific set of deliverables. Once the task is completed, the costs discontinue.

5.    Outsourcing causes loss of jobs

BPOs cut down the workloads of an enterprise by accepting minor tasks, like for payroll and tax services among others. Instead of hiring people to work on these, a company may open other positions that will help them focus more on their business core. Furthermore, outsourcing opens up employment opportunities for people who prefer working on a per project basis.

Prople Inc. was established to assist local enterprises of any size. As one of the leading business processes outsourcing companies, it delivers proven, best-in-class methodologies and solutions to ensure their customers’ business stability and progress.

It is staffed by value-driven employees, such as accountants, auditors, project managers, business analysts, engineers and IT professionals, who are rich in adequate professional experiences that may help companies realize true benefits of outsourcing.

Overall, it aims to produce practical outputs including increase of efficiency, immediate start on new projects, control of capital costs, reduction of labor costs, maintaining the focus on the business core and preventing risks that threaten the success of enterprises, and these are what Prople, Inc. desires to provide.

For a complete list of Prople, Inc.’s services, kindly visit its website at https://www.propleinc.com/.

AXN Announces Fourth Golden Buzzer for Asia’s Got Talent Ahead of World Premiere on October 12

AXN announced today that there is an added twist in its latest season of Asia’s Got Talent: a fourth Golden Buzzer to be pushed by new show hosts Alan Wong and Justin Bratton.

The announcement comes ahead of the highly-anticipated Asia’s Got Talent Season 2 which premieres next Thursday, October 12 at 8:30pm on AXN.

The Golden Buzzer, a privilege typically reserved for celebrity judges, David Foster, Anggun and Jay Park, is pushed for an act deemed so incredible that it is sent straight through to the semi-finals for a closer shot at the grand prize of USD100,000. This season, the hosts and each judge will have the power to push the coveted Golden Buzzer only once during the first five episodes called the ‘judges’ auditions’.



“The Golden Buzzer is a life-changing and highly emotional moment on Asia’s Got Talent where viewers share in the journey of the act. Empowering the hosts to choose their favorite act adds an extra layer of excitement to the show. Many of our fans on the Asia’s Got Talent Facebook page requested for this to happen, so we’re thrilled to make the hosts’ Golden Buzzer a reality,” said Virginia Lim, Senior Vice President and Head of Content, Production and Marketing, Sony Pictures Television Networks, Asia.

In Season one of the hit-rated series, Filipino shadow dance group, El Gamma Penumbra, received Anggun’s Golden Buzzer and ultimately won the series. The new season of Asia’s Got Talent promises a bigger, bolder and greater variety of acts from 15 countries which includes a mesmerizing array of magic, dance, music and martial arts, all vying for the four Golden Buzzers.

Asia’s Got Talent Season 2 will premiere on Thursday, October 12, 2017 at 8:30pm on AXN. To follow the journey of this season’s Golden Buzzer acts, check out #AXNAsia, #AsiasGotTalent and #GoldenBuzzer.

Asia’s Got Talent is the 67th adaptation of the Guinness-World-Record-breaking hit “Got Talent” format, which was created by Simon Cowell’s Syco Entertainment and is co-produced by FremantleMedia. The “Got Talent” format is officially the most successful reality TV format in history and currently airs in 186 countries.

Asia’s Got Talent is supported by presenting sponsor Traveloka, the leading travel booking app for all flight and hotel needs; and sponsoring partner Great Eastern Life, the market leader in the conventional life insurance business and the largest life insurer in Malaysia by asset size.

Marina Bay Sands, Asia’s leading business, leisure and entertainment destination, is the official venue partner of Asia’s Got Talent.

@AsiasGotTalent / #AXNAsia / #AsiasGotTalent / #AsiasGotTalentAuditions
www.AXN-Asia.com/AsiasGotTalent

AXN is available on Cablelink Channel 38, Cignal Channel 121, Destiny Cable Channel 61, Dream Satellite TV Channel 20, G Sat Channel 51, and SKYCable Channel 49. AXN HD is available on SKYCable Channel 247.