FROM THE MARGINS The President has appointed a new tax chief. Atty. Romeo Lumagui, Jr., tax lawyer and former Deputy Commissioner for Operations, recently took his oath, assuming leadership of the Bureau of Internal Revenue (BIR) amidst many challenges. With global inflation and an economy bearing...
Illicit cigarette trade in the country worsened amid the pandemic, allowing smugglers to amass huge profits and depriving the government of much needed tax revenues. At the recent Anti-Illicit Trade Conference “Plugging Revenue Leakage by Curbing Illicit Tobacco Trade,” authorities reported...
The newly-minted chief of the Bureau of the Internal Revenue (BIR) has ordered the resumption of audit and mission order issuances to run after suspected tax evaders. In a revenue memorandum circular dated Nov. 21, 2022, BIR Commissioner Romeo D. Lumagui Jr. lifted the suspension of field audits to...
Following the higher than expected revenue haul this year, Customs Commissioner Yogi Filemon Ruiz said he was looking at P1 trillion as his aspirational target for the government’s second largest tax agency. On the sidelines of the the Manila Bulletin Hotseat interview on Tuesday, Nov. 22, Ruiz...
The Pasay City government is offering 15 percent discount to those who will pay in advance their real property tax based on City Ordinance No.6233. Mayor Emi Calixto-Rubiano said she asked the City Council to pass and approve an ordinance extending the grant of 15% discount for the advance payment...
The Bureau of Internal Revenue (BIR) has increased the excise tax rates of vaporized and heated cigarettes as well as the novel tobacco products. (File photo) The new tax schedules are contained in Revenue Regulations No. 14-2022 which was signed by Department of Finance (DOF) Secretary Benjamin E....
The Bureau of Internal Revenue (BIR) has issued its guidelines for the implementation of the Vape Law that also set the floor price for heated, vapor, and other tobacco products. On Thursday, Nov. 17, the BIR published Revenue Regulations No. 14-2022, which serves as its implementing rules and...
The government needs to impose tougher penalties against tobacco smuggling to address the multibillion peso tax losses incurred due to illicit trade, a lawmaker said. PBA Rep. Margarita Nograles said the government is losing an estimated P26 billion annually because of smuggled, unregistered, and...
With 258 congressmen voting "yes", the House approved on third and final reading Monday afternoon, Nov. 14 the fourth package of the government’s Comprehensive Tax Reform Program (CTRP). (PPAB) Formerly known as the Passive Income and Financial Intermediary Taxation Act (PIFITA), the fourth...
The House of Representatives has overwhelmingly approved on third and final reading House Bill (HB) No.4122, which aims to impose a 12 percent value-added tax (VAT) on foreign digital service providers (DSP), such as Netflix and Spotify. (Ellson Quismorio/ MANILA BULLETIN) The measure's passage...
The House of Representatives on Monday afternoon, Nov. 14 approved on third and final reading a bill seeking to impose a P100 excise tax on single-use plastic bags, which have long been said to be a major cause of environmental pollution. (Unsplash) Also known as House Bill (HB) No.4102, the...
The Bureau of Internal Revenue (BIR) has started sending notices to online sellers of goods and services to register. Revenue district officers (RDOs) nationwide are spearheading the information campaign as many of these taxpayers have not complied, or simply ignored requests to register. Metro...
