The Philippines has increased its tax take as a share to the economy in 2022, even as it lagged behind the regional average in collection efficiency. According to the Organization for Economic Cooperation and Development's (OECD) Revenue Statistics in Asia and the Pacific 2024 report, the...
(AFP) The House of Representatives and the Senate on Thursday, June 27, has achieved consensus to approve the two chambers’ joint version of a bill that seeks to impose value-added tax (VAT) on non-resident digital service providers, Albay 2nd district...
The Court of Tax Appeals (CTA) has declared "final, executory, and demandable" the P717.7 million deficiency taxes of UP North Property Holdings, Inc. for 2009 assessed by the Bureau of Internal Revenue (BIR) in 2018. In a decision issued by its second division last June 25, the CTA ruled that "the...
The Department of Budget and Management (DBM) said that the budget allocation for local government units (LGUs) will reach over P1 trillion next year. Based on a memorandum released by the DBM, the total national tax allotment (NTA) for LGUs in 2025 will amount to P1.034 trillion, an 18 percent...
Camarines Sur 2nd district Rep. LRay Villafuerte (Facebook) Camarines Sur 2nd district Rep. LRay Villafuerte says the newly-signed Real Property Valuation and Assessment Reform Act (RPVARA) will generate higher revenue for local government units...
The Sandiganbayan has convicted former mayor Voltaire Anthony C. Villarosa of Mamburao, Occidental Mindoro of violation of the Government Service Insurance System (GSIS) Act of 1997 and ordered his perpetual disqualification from holding public office. Villarosa was also sentenced to...
The Court of Tax Appeals (CTA) has denied for lack of merit the petition of Calumpit Multi-Purpose Cooperative (CMPC) which contested the seizure, auction and forfeiture in 2018 of its P68.4 million worth of imported rice from Thailand. The case started on Sept. 9, 2015 when CMPC was granted a...
For lack of jurisdiction, the Court of Tax Appeals (CTA) has dismissed the petition filed by Friendlycare Foundation, Inc. which challenged the P10.3 million deficiency income tax and value-added tax assessed by the Bureau of Internal Revenue (BIR) for taxable year 2014. The petition was filed by...
The Court of Tax Appeals (CTA) has partially granted the petition of the National Grid Corporation of the Philippines (NGCP) as it reversed the decision issued by the Quezon City Regional Trial Court (RTC) which dismissed the P22 million claim for refund of city taxes and other business taxes. On...
BAGUIO CITY – The City Treasurer's Office reported a tax collection of P1.205 billion from January to April 30 this year, a 12.27 percent increase compared to the same period last year with P1.074 billion. PEOPLE cross a pedestrian lane in Baguio City on May 27. The City Treasurer's Office...
Finance Secretary Ralph G. Recto admitted the daunting challenge of digitizing the government's tax system, prompting the need to explore non-tax revenue sources for additional funding. Recto told Manila Bulletin on Tuesday, May 28, that the Marcos administration's digitalization initiatives to...
The Court of Tax Appeals (CTA) has affirmed its division's ruling that denied the petition of Sanyo Seiki Stainless Steel Corporation against the Bureau of Internal Revenue's (BIR) P51.99 million deficiency income tax assessment issued in 2006. The BIR sent a Letter Notice to Sanyo on Oct. 23,...
