Senator Jinggoy Ejercito Estrada has filed a bill seeking to extend the estate tax amnesty for another three years. The program ended last June 14, 2025, but Estrada, in filing Senate Bill No. 1488, sought to extend it until June 14, 2028 to give Filipino families more time to settle...
TACLOBAN CITY — Southern Leyte Rep. Christopherson Yap has filed House Bill 6702 that proposes to abolish the estate tax under the National Internal Revenue Code. The “Estate Tax Abolition Act” aims to help families make better use of the properties left by their loved ones by removing the...
A move is underway in the Senate to lower the value-added tax (VAT) imposed on purchased goods and services. Under Senate Bill No. 1552 filed by Senator Erwin Tulfo, Section 106 of the National Internal Revenue Code would be amended to bring down the current 12 percent VAT to 10 percent. The...
President Marcos has ordered the reduction of the real property taxes (RPT) imposed on independent power producers (IPP) for this year. The move was intended to prevent defaults and economic losses that could affect electricity supply and the government’s fiscal stability, according to the...
Senator Erwin Tulfo is now pushing for a bill that seeks to abolish the levy imposed by the government for all persons leaving the country. Tulfo, in filing Senate Bill No. 1409 said that current travel tax imposed on travelers hinders Filipinos ' right to travel. SB No. 1409, he said, seeks...
Manila Mayor Francisco "Isko Moreno" Domagoso urged business and property owners in the city to avail themselves of its General Tax Amnesty and huge Real Property Tax (RPT) discounts for early payers as part of the city 's expanded efforts to help taxpayers keep up with their dues while...
The Rotary Clubs of Makati Paseo de Roxas and Metro Iloilo recently hosted a tax awareness seminar for 165 business and accountancy students of the University of Iloilo. The tax seminar aims to prepare them for their critical role as future accounting and auditing professionals in the private and...
President Marcos unveiled a series of domestic reforms aimed at curbing corruption, improving fiscal fairness, and easing the cost of living — measures he said are necessary to strengthen the Philippines’ credibility as it prepares to assume the Association of Southeast Asian Nations (ASEAN)...
DAVAO CITY – Davao City Representatives Paolo Duterte and his son Omar Vincent Duterte have filed House Bill No. 5645 – Value-Added Tax Social Transfer for Indigent Citizens Act of 2025 – to ease the economic burden on the country’s poorest families. According to the Dutertes, HB No. 5645...
ILOILO CITY – The Iloilo provincial government has postponed the real property tax (RPT) tax increase scheduled for next year. The Iloilo Provincial Board approved Provincial Ordinance No. 2025-342 on third and final reading on Tuesday, Oct. 21, sponsored by second district Provincial Board...
The city government of Pasay is offering tax amnesty for delinquent real property taxpayers without penalties, surcharges, or interest. Pasay City Mayor Emi Calixto-Rubiano said the city government is giving delinquent real property taxpayers until July 5, 2026 to settle their obligations. Rubiano...
President Marcos’ chief economic manager stated that reducing the current 12-percent value-added tax (VAT) rate could weaken the government’s ability to fund operating expenses, such as personnel wages, as it would result in lower tax collections. Finance Secretary Ralph G. Recto said in an...
