The Supreme Court's (SC) affirmation of the Tax Reform for Acceleration and Inclusion (TRAIN) Law emboldens the House of Representatives--particularly the Committee on Ways and Means--to continue pursuing tax reform measures. Albay 2nd district Rep.Joey Salceda (Facebook) “The ruling upholding...
The Bureau of Internal Revenue (BIR) said value-added taxpayers are no longer required to file the return on a monthly basis starting this month. Bureau of Internal Revenue The new schedule was contained in Revenue Memorandum Circular (RMC) No. 5-2023 which implemented Section 37 of Tax Reform for...
The province of Ilocos Sur will get the biggest share from the proceeds of the RA 7171 Virginia tobacco excise tax fund in Fiscal Year 2020 while the province of Isabela will receive the highest share from the Burley and Native tobacco excise tax fund pursuant to RA 8240. In the Local Budget...
The Court of Tax Appeals (CTA) has cleared a Marikina-based businessman of tax evasion charges for the failure of the Bureau of Internal Revenue (BIR) to follow its audit guidelines. The court's First Division stated that Rodolfo Q. Reyes, sole proprietor of Celia' Handbag of Calumpang, Marikina...
The Senate Committee on Ways and Means’ report on its investigation on the Philippine Offshore Gaming Operators (POGO) industry is ready to be routed for signatures among members of the Senate, Sen. Sherwin Gatchalian said on Sunday, January 22. “May committee report na, may recommendations na...
Good news to business owners in Pasig City! The local government announced on Friday, Jan. 20, that the deadline for the assessment and payment of business taxes is extended until Friday, Jan. 27. The Pasig City Council passed on Thursday, Jan. 19, Resolution No. 153, series of 2023, which extends...
The Philippine Chamber of Commerce and Industry (PCCI) is pushing for the imposition of higher taxes on luxury items, but not the “wealth tax”, to help address the country’s huge budget deficit. PCCI President George T. Barcelon raised this proposal in reaction to clamor to impose wealth tax,...
The Court of Tax Appeals (CTA) has ordered the Bureau of Internal Revenue (BIR) to return more than P18 million it confiscated from the bank accounts of a subsidiary of a food conglomerate, Jollibee Foods Corporation. Court of Tax Appeals The Court en banc affirmed the decision of its Third...
Canada and the Netherlands, two countries pushing for media freedom worldwide, heaved a sign of relief after the Philippine Court of Tax Appeals (CTA) acquitted embattled journalist Maria Ressa and her company, Rappler, of tax evasion charges. In a statement, the two countries, which co-chair the...
The proposed expansion of the non-essential goods tax, which would see luxury good items taxed more, would generate st least P12.4 billion in annual revenue that could be funneled into supporting the local creative industry, Albay 2nd District Joey Salceda said on Wednesday, Jan. 18. Albay 2nd...
MANILA, Philippines - Nobel laureate Maria Ressa told AFP she keeps a prison "go bag,” bundles of cash for bail, and runs simulations of police raids with her staff as she fights for press freedom in the Philippines. The Rappler editor won acquittal of four tax-dodging charges Wednesday, but said...
Senator Risa Hontiveros on Wednesday, January 18 hailed the acquittal of journalist and Nobel Laureate Maria Ressa and her news outlet Rappler of tax evasion charges as a “win for free and defiant journalism in the Philippines.” Hontiveros issued the statement after the first division of the...
