Senator Juan Edgardo “Sonny” Angara on Thursday, February 22 welcomed the Food and Drug Administration’s (FDA) latest approval of 20 new drugs that will be exempted from the value added tax (VAT). Angara said this means more Filipinos who are suffering from cancer, hypertension,...
The Food and Drug Administration (FDA) has updated the list of value-added tax or VAT-exempt drugs for various critical conditions, such as hypertension, cancer, mental illnesses, tuberculosis, kidney diseases, diabetes, and high cholesterol. (FDA) Under Republic Act 11534, effective immediately...
The Department of Finance (DOF) is actively pursuing the removal of tax exemptions for pickup trucks that are not essential for small business operations. According to the DOF proposal, the reintroduction of excise tax on pickup trucks marketed as "lifestyle passenger vehicles" will significantly...
Department of Health (DOH) Secretary Teodoro Herbosa expressed appreciation for the Bureau of Internal Revenue's (BIR) removal of value-added tax (VAT) on 21 medicines, including those for cancer, diabetes, hypertension, and tuberculosis (TB). (DOH) "I welcomed that because these are the drugs that...
The Court of Tax Appeals (CTA) has ruled in favor of the Bureau of Internal Revenue (BIR) as it denied the petition filed by Valle Verde Country Club, Inc. which sought a P7.449 million refund for output value-added tax (VAT) on membership fees, assessment dues, and other charges from April 2018 to...
Albay 2nd district Rep. Joey Salceda (Facebook) Saying that Mayon Volcano could "erupt violently" anytime, Albay 2nd district Rep. Joey Salceda is seeking the exemption of national government agencies involved in relief work such as the Department of Social Welfare and Development (DSWD) from the...
Senator Sherwin Gatchalian on Wednesday, June 14 said he is optimistic that the bill seeking to provide a value added tax (VAT) refund for non-resident tourists would be would approved on third and final reading by the Senate when it resumes regular sessions next month. Gatchalian, chairman of the...
Senator Manuel “Lito” Lapid has called for the passage of a bill seeking to further provide discounts to senior citizens, by giving them the five percent discount on water and electricity bills. Lapid, in filing Senate Bill No. 2169, also proposed that senior citizens be exempted from the 12...
(MANILA BULLETIN) A ranking congressman is pursuing the exemption of public utility vehicle (PUV) drivers from the payment of application or renewal fees when securing their professional driver’s license. House Bill (HB) No.7796, authored by CIBAC Party-List Rep. Bro. Eddie Villanueva, seeks to...
Puwersa ng Bayaning Atleta (PBA) Party-list Rep. Migs Nograles is pushing for increased tax exemption for imported sporting gear and equipment. PBA Party-list Rep. Migs Nograles (Facebook) “We have to invest in the health of our people by encouraging them to have a very active lifestyle," said...
FROM THE MARGINS The President has appointed a new tax chief. Atty. Romeo Lumagui, Jr., tax lawyer and former Deputy Commissioner for Operations, recently took his oath, assuming leadership of the Bureau of Internal Revenue (BIR) amidst many challenges. With global inflation and an economy bearing...
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...
