A total of 1,370 IT business process management (ITBPM) firms with combined investments of P8.185 billion have transferred their registration to the Board of Investments (BOI) from other investment promotion agencies (IPAs) to continue enjoying fiscal perks even if they operate under the...
As the deadline for the filing and payment of the 2022 Annual Income Tax Return (AITR) approaches, the Presidential Communications Office (PCO) has reminded the public to maximize the Bureau of Internal Revenue (BIR)'s "File and Pay Anywhere" setup. *Presidential Communications Office / Facebook* In...
Having no salary means having no need to pay income tax. P3PWD Party-list nominee Rowena Guanzon (Facebook) P3PWD Party-list nominee Rowena Guanzon espoused this logic via Twitter on Wednesday, Feb. 8. "Hindi ako magbabayad ng taxes. Hindi naman ako sinweldohan ni Speaker Martin eh. Walang sueldo,...
Economist-solon Albay 2nd district Rep. Joey Salceda says he is proud of the part he played in enacting the Tax Reform for Acceleration and Inclusion (TRAIN) Law, which has placed more cash in the pockets of Filipinos who relatively earn less. (Mari Gimenez/ Unsplash) Salceda, chairman of the House...
Here's some good news to start the year 2023. (MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month's worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law. “A 13.5th month...
Senator Sonny Angara said the middle class will experience some relief next year through income tax deduction. “Yes. Next year there would be tax relief. Under the TRAIN law, there would be another income tax reduction,” Angara said during an interview at the sidelines of the 20th...
The progressive party-list group Bayan Muna has pushed the Supreme Court (SC) to act swiftly on the petition seeking to cancel the certificate of candidacy (COC) of presumptive president Ferdinand “Bongbong” Marcos Jr. Bayan Muna Party-list Rep. Carlos Zarate (Photo from Bayan Muna) “There is...
The Bureau of Internal Revenue (BIR) has extended up to April 18 the deadline for the filing of 2021 income tax return (ITR). BIR Commissioner Caesar Dulay (Photo courtesy of BIR Facebook page) BIR Commissioner Caesar R. Dulay moved the original April 15 deadline as it is a holiday, Good Friday....
Personal income tax (PIT), which is withheld from an employee's salary and paid to the government, remained a major revenue stream for the government despite the lowering of rates on individual taxpayers and the pandemic-induced economic slowdown. Data released from the Department of Finance (DOF)...
A group of Filipino tax experts has urged the public to faithfully comply with their tax filing obligations, saying non-compliance is now a punishable offense under existing regulations. In a statement, the Tax Management Association of the Philippines (TMAP), said on Saturday, Feb. 12, the...
Finance Secretary Carlos G. Dominguez III said that failure to file an income tax return (ITR) was not a violation under the 1977 National Internal Revenue Code (NIRC) as failure to file tax returns has become a punishable offense only in 1992. Dominguez issued this clarification Friday, Feb. 11,...
The House Special Committee on Senior Citizens on Tuesday, Sept. 21, approved in principle a bill that would grant senior citizens an exemption from income taxes. (Mark Balmores/MANILA BULLETIN File Photo) House Bill No. 8832, filed by Senior Citizens' Party List Representative Rodolfo Ordanes,...
