Limjap Limjap & Company

Limjap Limjap & Company It aims to provide efficient servicing and custom-made solutions.

Limjap Limjap & Company was born out of collective years of professional experience in Accounting and trainings in internal control review, fraud audits, and systems design and development.

The government just dropped the corporate tax rate from twenty-five percent to twenty percent. This applies to corporati...
14/05/2026

The government just dropped the corporate tax rate from twenty-five percent to twenty percent.

This applies to corporations classified as Registered Business Enterprises.

A five percent drop means millions in extra cash.

Founders hear this and think the discount is automatic.

But there is a catch hiding in the new regulations.

The lower rate only applies to income derived from registered projects.

Income from non-registered activities is still taxed at the regular rate.

Businesses often mix all their revenue into one bank account.

The same invoicing system handles everything.

When they try to claim the lower tax rate, they have no proof of which money came from the registered project.

The authorities do not accept estimates.

They demand a flawless paper trail.

If the daily tracking is messy, the government defaults to the higher rate or flags the business for an audit.

This is why year-end accounting creates massive risk.

We build workflows that automatically separate these income streams from day one.

Clean daily math is a much safer way to claim a tax cut

08/05/2026

A corporate importer just got hit with a ₱262 million tax evasion case.

They tried to claim a VAT exemption on a massive shipment of palm oil.

The rule says this oil is tax-free if it is used for animal feed.

But the authorities checked the paper trail.

The company did not make animal feed, and the buyers they sold it to did not make feed either.

The required certificates simply did not exist.

Founders sometimes treat tax exemptions like a menu of discounts.

They think claiming one is just checking a box on a form.

But a tax exemption is a legal claim.

It requires physical proof that matches the exact reality of your business.

Forcing a deduction without the correct paper trail is a massive risk.

The computers eventually catch the mismatch.

This is why we build clean daily records instead of relying on tax tricks.

When your daily math is airtight, your business is safe.

05/05/2026

Online businesses used to operate quietly.

Physical stores always had to frame their tax certificates on the wall.

Now the rules apply to the internet.

A new mandate requires online sellers to display a digital tax badge.

It covers dropshippers, freelancers, and influencers.

If you sell online, buyers can now see if you are registered.

The authorities can see it too.

A missing badge is a clear signal that the business is unregistered.

Operating online requires real compliance now.

We are helping our ecommerce clients get their badges set up this week.

04/05/2026

The BIR just released a new update.

Founders now have until May 15 to submit their tax papers online.

A common question is whether to wait.

My firm told all our clients to file right now.

Waiting until the last day is dangerous.

The government computer system often crashes when everyone logs in at once.

If the system goes down on May 15, late filers still pay a penalty.

Extensions do not guarantee safety.

Filing early with clean books is a reliable shield.

30/04/2026

As you know we have a new computer system.

It checks all your tax records at the same time.

The computers automatically flag 3 specific mistakes.

First is when your VAT numbers do not match your income tax numbers.

Second is missing tax papers.

Claiming a tax credit without the physical paper causes an alert.

Third is matching a payment in the wrong month.

These are not human checks anymore.

The computers catch these mistakes before a person can even look at your file.

I am breaking down how business owners can fix these mistakes before the May 15 deadline.

Comment “importer” and I will send you the list

29/04/2026

An existing client just brought us two new businesses.

One is a restaurant.

The other is an offshore IT company.

Then his friend called and gave us a third business.

It is a Korean food distributor that sells across the country.

That is three new clients in one week.

They did not come to us for a secret tax trick.

They came because of how we work.

Our workflows are fast.

Our communication is easy.

We do not make accounting feel heavy.

When you make a founder's life easy, they tell their friends.

Clean books and fast answers build trust.

That trust turns into referrals

27/04/2026

I have talked to countless tax officers and watched thousands of tax audits.

And a common belief is that an audit happens because a business is hiding money.

But what I noticed is something different.

Audits rarely start because someone is cheating.

It mainly starts because of bad bookkeeping.

A business owner thinks they are safe because they pay their taxes on time.

But their bookkeeper is putting the wrong receipts in the wrong places.

Remember that the system only cares if the numbers match.

So even a clean business with messy paperwork looks like tax cheating to a computer.

Start with how you record your daily sales.

Clean books will save you the headache

23/04/2026

Tax deadline got moved to May 15.

Gas prices are high right now so the government gave everyone an extra month.

Many firms we know told their clients to wait.

We did not do that.

Our clients already filed and paid their taxes.

Finishing early is for the sake of being early.

It is purely about staying safe.

Waiting an extra month gives the computers extra time to find mistakes.

Our clients do not have to worry about the May 15 rush.

Their taxes are done.

And they are back to running their businesses

17/04/2026

A client I can't name received a BIR letter asking for millions.

The assessed amount was higher than their actual sales for the year and the examiner threw out all their valid expenses.

And so the owner panicked.

They were ready to take out a loan to pay a settlement.

They thought negotiating with BIR was impossible.

I looked at the examiner's papers and found lazy math.

And so I filed a strong protest with the real numbers.

The examiner backed down and the millions dropped to a few thousand pesos for a late filing penalty.

The BIR does not collect millions because they find real mistakes.

Don't panic and do the math.

Comment "audit" below if you want to know your real exposure.

I will send you the 3 questions I use to check any business in 15 minutes.

16/04/2026

Founders often focus on filing on time.

But the real problem is what happens when the BIR checks if the numbers match.

Filing is just the beginning of the process.

In my 35 years of practice I noticed a clear pattern.

The BIR does not collect money just through audits.

They collect money through the fear of audits.

Business owners panic when they see a big number and pay penalties they do not actually owe.

As the saying goes: “If you fail to prepare, you are preparing to fail”

15/04/2026

People rarely talk about what bahala na actually costs.

It is the reason founders pay 10 times more than they should.

But hoping for the best is not the best tax strategy.

The BIR only cares about receipts and ledgers.

Small details turn into massive penalties when you ignore them.

A missing form is cheap to fix today.

But it costs a fortune to fix during an audit.

Bahala na is a very expensive phrase

Address

Unit 309 Building 3, Bojor Bali Oasis Marcos Highway Brgy. Santolan
Pasig
1610

Opening Hours

Monday 8:30am - 6pm
Tuesday 8:30am - 6pm
Wednesday 8:30am - 6pm
Thursday 8:30am - 6pm
Friday 8:30am - 6pm
Saturday 8:30am - 6pm
Sunday 8:30am - 6pm

Telephone

+639174232018

Website

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