The Coordinating Council of Private Educational Associations (COCOPEA) on Monday, Sept. 27, commended the Senate for passing on third and final reading the measure that seeks to clarify that all private schools are entitled to the one percent preferential tax rate under the Corporate Recovery and...
Some 250 famous social medial (socmed) personalities are now being investigated by the Bureau of Internal Revenue (BIR) for possible tax evasion, the Department of Finance (DOF) said. In a statement, the DOF said on Thursday, Sept. 16, that the tax bureau is looking into an initial 250 top earning...
E-Cigarettes The Bureau of Internal Revenue (BIR) will start affixing tax stamps on e-cigarettes and heated tobacco products (HTP) to ensure tax compliance among manufacturers of these alternatives to traditional smoking. Based on BIR Revenue Regulations No. 28 dated Sept. 10, 2021, the the...
The House of Representatives on Tuesday, August 31 unanimously approved on third and final reading the proposed Hidilyn Diaz Act that would exempt from taxes all bonuses, gifts and incentives received by national athletes for winning in international sports competitions. Hidilyn Diaz - Gold Medal...
Presidential Spokesperson Harry Roque has affirmed that President Duterte's decision to allow casino operations on the world-famous Boracay island in Aklan was indeed caused by the government’s need for additional funds. (Photo by Kaysha/ Unsplash) "The President has given his go-signal allowing...
The Bureau of Internal Revenue (BIR) and social media influencers and other digital workers have been asked to chill and give way to dialogue in addressing the taxation controversy that have put them at loggerheads. Axie Infinity Rizal 2nd District Rep. Fidel Nograles aired the appeal as he...
The proposed Hidilyn Diaz Act easily hurdled second reading passage in the House of Representatives on Tuesday, August 24. Hidilyn Diaz 2 House Bill 9990 seeks to clarify all laws on the imposition of taxes for bonuses, rewards, donations, gifts and other forms of emoluments granted to national...
The House of Representatives has provided another way for Filipinos to earn millions of pesos even without winning a gold medal in Olympic Games. House of Representatives plenary On Monday, August, 23, the legislative chamber gave its unanimous nod to the final reading approval of a bill that will...
The national government’s budget deficit narrowed in July this year due to slower public spending and higher revenue haul, the Bureau of the Treasury reported. The Duterte administration trimmed the government’s fiscal gap last month by 13.6 percent to P121.2 billion from P140.2 billion in July...
With a sharp drop in enrollment practically conspiring with the imposition of higher taxes by the Bureau of Internal Revenue, the country’s private schools are turning to Congress for help in the swift adoption of legislative policy intervention. COCOPEA LOGO In a statement issued after the House...
The House of Representatives on Monday, August 23 passed on third and final reading the bill that proposes to define tax rates for proprietary schools in order to allow them to avail of the 10-percent preferential rate on taxable income. STUDENTS With all 203 members present voting in the...
The Commission on Audit (COA) has disallowed in audit some P318.572 million representing tax refunds that were issued despite alleged violations of the complete documentary requirements and “mandatory and jurisdictional conditions” in its grant by the Bureau of Internal Revenue (BIR) . Bureau...
