The Department of Finance (DOF) raised the importance of expanding the electric vehicle (EV) incentive program to achieve the country's economic and environmental goals. Finance Secretary Ralph Recto said that the EV incentive program, as outlined in Executive Order No. 12, is poised to improve the...
For lack of jurisdiction, the Court of Tax Appeals (CTA) has denied the petition filed by the National Food Authority (NFA) which sought to suspend the collection of the P143 million real property tax (RPT) levied against it by the Cabanatuan City government in Nueva Ecija. The NFA filed its...
The Court of Tax Appeals (CTA) has granted the petition of former Chief Justice Maria Lourdes P.A. Sereno against her alleged P6.9 million deficiency income taxes, surcharges, and interests for taxable years 2011 to 2016. In a decision promulgated last May 14 by its special second division, the CTA...
The Court of Tax Appeals (CTA) has dismissed the petition for P44.25 million tax refund sought from the Bureau of Internal Revenue (BIR) by LKY Property Holdings, Inc. In a decision, the CTA's first division said refunds for erroneously collected taxes must be made within two years from the payment...
The Bureau of Internal Revenue (BIR) announced that it will begin confiscating vape products lacking tax stamps starting in June and will enforce legal consequences on individuals caught with these items. In a statement, BIR Commissioner Romeo D. Lumagui Jr. said that vape manufacturers and...
The Court of Tax Appeals (CTA) has denied the P3.9 million tax refund sought by Lantro Phils., Inc., a firm that "offers installation, maintenance, and support services for structured cabling systems." Lantro filed its application for tax credits/refunds on April 1, 2019 before the Bureau of...
The Bureau of Internal Revenue (BIR) has announced a new requirement for tax stamps to be affixed on all vape products sold in the country. Effective June 1, 2024, the BIR's Revenue Memorandum Circular 59-2024 mandated the use of 4th Generation Internal Revenue Stamps on vapor products. The...
For lack of jurisdiction, the Court of Tax Appeals (CTA) has denied the claim for P59.1 million additional tax refund sought by Franklin Baker Company of the Philippines for input value added tax (VAT) attributable to zero-rated sales for 2018. Franklin Baker, a firm engaged in the global supply of...
The Court of Tax Appeals (CTA) has denied the petition of Zuellig Pharma Asia Pacific Ltd. Phils. ROHQ which sought a P59.8 million tax credit or refund from the Bureau of Internal Revenue (BIR). Zuellig Pharma wanted the P59,809,336.79 refunded or credited as it reportedly represented its excess...
Most taxpayers have already fulfilled their annual tax filing obligations ahead of the deadline, the Bureau of Internal Revenue (BIR) reported. BIR Commissioner Romeo D. Lumagui Jr. said that 95 percent of registered taxpayers have filed and paid their 2023 income tax returns (ITR) prior to the...
The Court of Tax Appeals (CTA) has denied the claim for refund of P36.7 million in franchise tax sought by the Davao City Water District (DCWD) from the Bureau of Internal Revenue (BIR) for taxable years 2003 to 2011. With its ruling, the CTA as a full court denied the petition filed by DCWD which...
Let bygones be bygones. The once stormy waters between the Bureau of Internal Revenue (BIR) and Manny Pacquiao have shifted, with the boxing icon now championing tax compliance among Filipinos. The BIR has tapped Pacquiao as one of its famous personalities tasked with reminding...
