Tax payment deliquency has cost San Juan City over P233 million in uncollected real estate taxes thus depriving the city government much needed funds to finance its various programs, projects and activities. The Commission on Audit (COA) also lamented that the city has incurred foregone realty tax...
Presidential Spokesman Harry Roque asked Congress to pass a law that would exempt Olympic Gold medalist Hidilyn Diaz's cash rewards from tax, saying no Filipino wanted to deduct from her much-deserved prizes. Hidilyn Diaz's gold medal-winning lift (Photo from AFP) Roque made the statement after the...
Senators on Thurday, July 29, again called for an amendment of the country's tax code to provide a "permanent" solution to the erroneous interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Senate President Pro Tempore Ralph Recto (Senate PRIB) Senate President...
Senator Sonny Angara on Thursday, July 29 welcomed the decision of the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) in suspending the implementation of the new tax regulations on private schools and giving Congress sufficient time to fix the confusion caused by the law....
Senate President Vicente Sotto III directed on Wednesday, July 28, the chamber's rules committee to look into the possibility of pushing tax exemptions for the rewards and gifts to be given to Olympic gold medalist Hidilyn Diaz. Olympic gold medalist Hidilyn Diaz (AFP) During the Senate's plenary...
The Philippine Amusement and Gaming Corp. (PAGCOR) is against proposals to provide certain advantages to special economic zones involved in Philippine offshore gaming operations (POGO). Andrea D. Domingo, PAGCOR chairman and chief executive officer said Wednesday, July 28 that the government’s...
The Department of Finance (DOF) said President Duterte has now accomplished eight tenths of his economic reform program that provided income tax cuts for individuals and corporations. In a statement, Finance Secretary Carlos G. Dominguez III said Wednesday, July 28, that 85 percent of the Duterte...
Here's more good news for Filipino weightlifter Hidilyn Diaz. The Bureau of Internal Revenue (BIR) said cash gifts and other rewards to be received by Diaz--the first Filipino Olympic gold medalist--won't be subject to income tax. Hidilyn Diaz shortly after her 'golden' moment in the ongoing Tokyo...
The Court of Tax Appeals (CTA) has cancelled the P112-million deficiency tax assessment issued by the Bureau of Internal Revenue (BIR) against a marketing firm, saying the claim has no "legal and factual bases". (Photo from PNA) The court's third division said that the final assessment notice (FAN)...
Speaker Lord Allan Velasco formally opened on Monday, July 26 the third and final regular session of the 18th Congress with a vow that the House of Representatives is ready to make “one last big push” for the passage of the remaining legislative priorities of the Duterte administration. House...
The Bureau of Internal Revenue (BIR) has advised delinquent taxpayers to amicably settle their tax liabilities in order to avoid costly and lengthy court battles. (Photo from CTA) Top revenue officials made this appeal after the first division of the Court of Tax Appeals (CTA) approved the judicial...
Albay 2nd District Representative Joey Salceda said on Tuesday, July 20, that Speaker Lord Allan Velasco is amenable to the House of Representatives adopting the Senate's version of the fiscal regime for Philippine offshore gaming operators (POGOs). The House Ways and Means Committee chairman said...
