The House Committee Ways and Means on Wednesday, Aug. 17, approved a proposed measure that would impose value-added tax (VAT) on non-resident digital service providers (DSPs), such as Amazon and Google. (Images from Wikipedia) Albay 2nd District Rep. Joey Salceda, committee chairman, said during...
The legislative lever of Congress is sought on the proposed revamping of the multi-tiered taxes in the power sector to reduce the pass-on tariff in the electric bills of consumers by as much as P1 per kilowatt hour. The power tax components being recommended for scrapping include those on public...
Incoming Senate Minority Leader Aquilino Pimentel III today July 4 refiled a bill seeking an automatic suspension of the collection of value-added tax (VAT) and excise tax when the price of oil hits a high level in the world market. This was one of the 10 bills filed so far by Pimentel with the...
The Senate indicated that proposed amendments to the Tax Reform for Acceleration and Inclusion (TRAIN) Act may still be pushed to trim taxes levied on fuel commodities, but may not be outright suspension of excise taxes on petroleum products as this would result in annual revenue losses of roughly...
The “over-taxation” in the electricity sector is being urged to be stopped finally in the next administration and a proposed legislation scrapping value added tax (VAT) on electricity rates will be lodged when the next Congress resumes. "We need to stop this over-taxation of consumers of...
The Department of Finance (DOF) has clarified that there is no double taxation in the imposition of value-added tax (VAT) in the electric power sector. Reacting to recent statements made by the Energy Regulatory Commission (ERC), Finance Secretary Carlos G. Dominguez III explained that the Electric...
If the radical spikes in oil prices will linger in the months ahead, the suspension of excise taxes and possibly even value added tax (VAT) will be on the table as an agenda of the Marcos administration. Senator Sherwin Gatchalian, who is the incoming chairman of the Ways and Means Committee of the...
The Department of Finance (DOF) wants large foreign digital service providers (DSP) to remit to the Bureau of Internal Revenue (BIR) the value-added tax (VAT) in transactions that go through their platforms. Finance Director Euvimil Nina R. Asuncion said the DOF supports House Bill (HB) No. 7425...
Makabayan coalition senatorial candidate Neri Colmenares praised the removal of value-added tax (VAT) from water bills of the Manila Water Company and Maynilad Water Services, but at the same time stressed the need for the same relief when it comes to fuel and electricity. Makabayan coalition...
Vice President Leni Robredo revealed the steps her administration will take in response to the Ukraine-Russia conflict if she wins the presidency in the upcoming elections. Presidential candidate Vice President Leni Robredo (VPLR Media Bureau) During the CNN Philippines Presidential Debate at the...
The Bureau of Internal Revenue (BIR) said Friday, Oct. 15, that only medicines and medical devices directly used for the treatment of coronavirus disease (COVID-19) are exempted from the 12 percent value-added tax (VAT) implemented last June. Bureau of Internal Revenue The BIR issued the...
The Bureau of Internal Revenue (BIR) has extended the deadline for the filing of value-added tax (VAT) refund claims as it suspended the processing of such claims due to the coronavirus disease (COVID-19) pandemic. Bureau of Internal Revenue BIR Commissioner Caesar Dulay issued the announcement...
