The national government’s (NG) usual April budget surplus shrank by more than half this year after the annual income tax returns (AITRs) filing and payment deadline was extended by one month due to the national energy emergency, although revenues were partly supported by millions of pesos in...
Electricity subsidies remain necessary to help vulnerable households and remote communities access power, but the Philippine government needs to improve targeting mechanisms to reduce leakages and ensure long-term sustainability, according to experts at a recent webinar organized by state-run...
The Bureau of Internal Revenue (BIR) issued a final call to taxpayers to settle their obligations on Friday, May 15, the end of the one-month extension for the 2025 tax year. In a statement, BIR Commissioner Charlito Martin R. Mendoza urged the public to utilize electronic channels to complete...
In one of the more contentious side topics of Vice President Sara Duterte’s impeachment hearings, the House Committee on Justice voted on Wednesday, April 29 not to open the sealed box of tax records submitted by the Bureau of Internal Revenue (BIR) containing the income tax returns of Vice...
Developing economies including the Philippines are pressing the World Bank Group (WBG) to help reduce borrowing costs as the economic fallout from the Middle East conflict drives up oil prices, disrupts supply chains, and threatens growth and food security. In an April 16 statement delivered before...
President Marcos has extended the deadline of filing of 2025 income tax returns (ITR) from April 15 to May 15. It aims to give taxpayer more time to file their ITR properly without incurring penalties. "Pinalawig natin ang deadline ng filing ng 2025 Annual Income Tax Returns mula April 15 hanggang...
The Bureau of Internal Revenue (BIR) has issued Revenue Memorandum Circular (RMC) No. 20-2026, providing guidelines for the filing of annual income tax returns (AITRs) and payment of taxes for calendar year 2025. BIR Commissioner Charito Martin R. Mendoza said the circular supports the Ease of...
The Bureau of Internal Revenue (BIR) clarified that cross-border services, including information technology outsourcing and consulting, are not subject to automatic income tax, easing concerns among multinational firms about the 2024 rule, which appeared to broaden the government’s reach. In a...
As the April 15 deadline for the filing of annual income tax returns (ITRs) approaches, Sen. Sherwin Gatchalian called on the Bureau of Internal Revenue (BIR) to ensure the full and effective implementation of the law that makes filing of such document easier and faster. Gatchalian is referring to...
The Department of Human Settlements and Urban Development (DHSUD) and the University of the Philippines (UP) broke ground on a rental housing project aimed at low-income housing for the university community. DHSUD Secretary Jose Ramon Aliling and UP President Angelo Jimenez on Friday led the...
Manila Mayor Francisco "Isko Moreno" Domagoso met with Housing Investment Committee officials on Wednesday, March 4, to discuss plans on how to further boost the city 's passive income funds collected from the city 's housing projects. Domagoso said the plan aims to create additional...
Senator Jinggoy Ejercito Estrada is now pushing for a bill seeking to lower the individual income tax rates to increase the take-home pay of workers, particularly for low and middle-income earners. In filing Senate Bill No. 1685, Estrada proposes to adjust tax brackets starting in 2027 by amending...
