The government’s two main tax agencies have surpassed their respective collection goals last year, which the economic managers lowered in the wake of the coronavirus-induced economic crisis. Preliminary data from the Department of Finance (DOF) showed that the Bureau of Internal Revenue...
The Department of Finance (DOF) said it will comply the Supreme Court’s order barring the imposition of franchise tax on all bets generated by Philippine offshore gaming operations (POGOs) Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue (BIR) will halt the...
The leading tax collection unit of the Bureau of Internal Revenue (BIR) has surpassed by a big margin its collection assignment as it garnered P1.4 trillion of December 22, 2020. Revenue Assistant Commissioner Manuel Mapoy, head of the Large Taxpayers Service (LTS), said the take was P135.5 billion...
The Duterte administration’s budget deficit breached the P1 trillion mark in November due to higher spending and lower revenues amid the coronavirus-induced economic recession, data from the Bureau of the Treasury revealed. The national government incurred a P1.069 trillion fiscal gap in January...
The Bureau of Internal Revenue (BIR) has collected additional taxes from commercial establishments that were padlocked earlier for failing to either register or pay the correct amount of tax. In a statement, BIR Deputy Commissioner Arnel Guballa said they have collected a total...
Government debt stock breached the P10 trillion mark in October amid unprecedented borrowings for the coronavirus response, data from the Bureau of the Treasury showed. Total outstanding debt of the national government stood at P10.028 trillion as of October this year, up by 26.8 percent compared...
The Department of Finance (DOF) directed the tax authorities to assist the Department of Agriculture (DA) in investigating the alleged use of cooperatives by private traders as dummies for rice imports. In a statement, Finance Secretary Carlos G. Dominguez III said he ordered the Bureau of Internal...
The Duterte administration’s budget deficit is nearing the P1 trillion mark in January to October this year as the government continued to struggle in raising revenues due to the coronavirus-induced crisis. Data from the Bureau of the Treasury showed the national government incurred a P940.6...
The national government’s tax effort slipped in the first nine-months of the year after the coronavirus-induced crisis dragged down the Bureau of Internal Revenue (BIR) and Bureau of Customs collections....
As government sets to allow Filipino citizens to access online casino websites, the Department of Finance (DOF) is quick to remind operators that there is no tax distinction between onshore and offshore gaming operations. Finance Secretary Carlos G. Dominguez III said the Bureau of Internal Revenue...
EDITOR’S NOTE: This is an article from Charlie A. V. Gorayeb, national chairman of CREBA (Chamber of Real Estate & Builders’ Associations, Inc.) The Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) has appealed anew for immediate government intervention against the...
After 9 months to Sept. The national government’s budget deficit slid in September this year as both revenues and spending contracted during the month, data from the Bureau of the Treasury showed. The Duterte administration incurred a P138.5 billion fiscal gap last month, down by 22 percent...
