Here's some good news to start the year 2023. (MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month's worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law. “A 13.5th month...
House Committee on Ways and Means Chairman Joey Salceda has thumbed down a recommendation from the International Monetary Fund (IMF) for the government to shift away from luxury taxation of cars, saying this would lead to the taxation of public utility jeepneys (PUJs). (MANILA BULLETIN) The Albay...
Individual taxpayers will get income tax breaks next year, providing Filipino consumers additional purchasing power, but would result in billions of foregone government revenues. This is because the second tranche reduction in personal income tax as mandated under the Tax Reform for Acceleration...
Parañaque City Mayor Eric Olivarez said the local government will not impose any increase in real property taxes (RPTs) in 2023 to assist businesses and attract more investments as part of the City’s Economic Recovery Program. Olivarez said the City Council has passed an ordinance officially...
The Bureau of Internal Revenue (BIR) has ordered a crackdown on business establishments that have been using fake receipts and invoices printers. In a statement, the BIR said fake receipts and invoice printers have been causing the government to lose billions of pesos annually. "We will file...
Bureau of Internal Revenue (BIR) and National Bureau of Investigation (NBI) operatives have arrested 36 employees of a printing company allegedly engaged in the lucrative distribution of fake invoices and receipts. Money/File (Manila Bulletin article) BIR Commissioner Romeo D. Lumagui Jr. said the...
BRUSSELS, Belgium -- The European Union on Thursday adopted a plan for a global minimum 15 percent tax on multinational businesses, after leaders gave final approval following months of wrangling. The landmark agreement between nearly 140 countries is intended to stop governments racing to cut...
The Bureau of Internal Revenue (BIR) said it will intensify the search for unregistered online traders and social media influencer who earn huge income through the years but would not pay any tax to the government. BIR Commissioner Romeo D. Lumagui, Jr. has formed special task force (STF) in every...
The Court of Tax Appeals (CTA) has erased the P179.9 million tax liabilities of a businessman from Isabela for the failure of the Bureau of Internal Revenue (BIR to give him a chance to answer the tax assessments. The court's First Division said the assessments issued to Joselito B. Yap, owner of...
The attempt of the Bureau of Internal Revenue (BIR) to register online sellers of goods and services that are based inside condominium buildings and exclusive subdivisions in Metro Manila hit a snag after its personnel were barred from entering the areas. "For security reason, guards do not allow...
The Fiscal Incentives Review Board (FIRB), chaired by the Department of Finance, has approved the tax incentive application of TDK Philippines Corp. (TPC). In a statement Tuesday, Dec. 6, Finance Assistant Secretary Juvy Danofrata said the FIRB approved the fiscal incentives for TPC’s P2.5...
The House tax panel approved on Monday, Dec. 5, the tax provisions of the proposed House Bill (HB) No. 6398, or the Maharlika Investment Fund Act, which will ensure that tax benefits go to the investment fund rather than line the pockets of executives and other officials. Albay 2nd district Rep....
