The Coordinating Council of Private Educational Associations (COCOPEA), which counts over 2,500 private educational institutions as members, called on Congress to immediately support the enactment of two bills to permanently rescind the imposition of 150-percent tax hike on private schools. COCOPEA...
Senate Minority Leader Franklin Drilon on Thursday urged the Bureau of Internal Revenue (BIR) to affirm that all Olympic-related prizes, awards and incentives given to Gold Medalist Hidilyn Diaz should be tax exempt. Drilon said that until now the rules with regard to the treatment of such perks...
Senators on Thurday, July 29, again called for an amendment of the country's tax code to provide a "permanent" solution to the erroneous interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Senate President Pro Tempore Ralph Recto (Senate PRIB) Senate President...
Senator Sonny Angara on Thursday, July 29 welcomed the decision of the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) in suspending the implementation of the new tax regulations on private schools and giving Congress sufficient time to fix the confusion caused by the law....
Here's more good news for Filipino weightlifter Hidilyn Diaz. The Bureau of Internal Revenue (BIR) said cash gifts and other rewards to be received by Diaz--the first Filipino Olympic gold medalist--won't be subject to income tax. Hidilyn Diaz shortly after her 'golden' moment in the ongoing Tokyo...
The Court of Tax Appeals (CTA) has cancelled the P112-million deficiency tax assessment issued by the Bureau of Internal Revenue (BIR) against a marketing firm, saying the claim has no "legal and factual bases". (Photo from PNA) The court's third division said that the final assessment notice (FAN)...
Senator Imee Marcos on Friday, July 23, appealed to the Bureau of Internal Revenue (BIR) to exclude manufacturers of personal protective equipment (PPE) and other medical supplies from the imposition of value-added tax (VAT) on local inputs. Trade Secretary Ramon Lopez (center) inspects the face...
The Department of Finance (DOF) is reviewing the Bureau of Internal Revenue’s (BIR) regulation, technically deferring the imposition of the value-added tax (VAT) on exporters’ purchases from local suppliers and indirect/constructive export transactions. Finance Secretary Carlos G. Dominguez III...
The Bureau of Internal Revenue (BIR) has advised delinquent taxpayers to amicably settle their tax liabilities in order to avoid costly and lengthy court battles. (Photo from CTA) Top revenue officials made this appeal after the first division of the Court of Tax Appeals (CTA) approved the judicial...
The Bureau of Internal Revenue (BIR) has reshuffled 14 mid-level executives as part of it's continuing efforts to further enhance the tax collection drive. (Photo from BIR Facebook page) Informed sources said BIR Commissioner Caesar R. Dulay has been conducting periodic personnel changes based on...
The Value Added Tax (VAT) refund system of the Bureau of Internal Review (BIR) is working efficiently with a success rate of 90 to 95 percent, according to tax experts. This was disclosed by tax experts at the virtual webinar “Tax Talks: BIR Revenue Regulation 09-2021 VAT on Purchases by...
The electronics and semiconductor industry, the country’s single largest dollar earner accounting for 60 percent of the country’s total exports, said some companies are transferring their domestic purchases and indirect exports to foreign suppliers because the imposition of value added tax...
