Executive Summary Philippine tax rules can be confusing, especially when advice comes from social media, friends, or outdated practices. Some information may sound reasonable but can lead to missed filings, incomplete records, or unnecessary tax problems. This Myth vs. Fact guide explains common misconceptions about BIR registration, invoices, tax records, and tax compliance in simple terms. Myth #1: “If my business is small, I do not need to register with the BIR.” FACT: Bus