Hong Kong is ramping up its incentive programs and investment facilitation schemes to further boost trade with the Philippines, committing to low trade barriers, in contrast with the protectionist policies of the United States (US). Invest Hong Kong (InvestHK), the agency responsible for...
The Philippines and Cambodia are expected to remove this year taxation that is doubly imposed on their local businesses and individuals following negotiations that happened in Manila on Tuesday, Aug. 27. Foreign Affairs Secretary Enrique Manalo and Cambodian Deputy Prime Minister Chenda Sophea sat...
The Philippines and Cambodia are set to formally sign their double taxation agreement (DTA) after six years of negotiations, the Department of Finance (DOF) announced. In a statement on Friday, May 3, the DOF said that the draft DTA between Manila and Phnom Penh was finalized on April 19, with the...
President Marcos assured Cambodian Prime Minister Hun Manet that the Philippines is doing all it can to solve the issue of double taxation between the two countries. (From right) President Ferdinand 'Bongbong' Marcos Jr. and Cambodian Prime Minister Hun Manet during a bilateral meeting in...
The hardline stand of the Bureau of Internal Revenue (BIR) against tax evasion racket has been boosted with the full support extended by the Department of Justice (DOJ) in the prosecution of negligent taxpayers. (L-R) BIR Commissioner Romeo D. Lumagui Jr. and DOJ Secretary Jesus Crispin...
If you love your potato chips then pay close attention to congressmen starting next month. (Unsplash) The House Committee on Ways and Means chaired by Albay 2nd district Rep. Joey Salceda will start deliberations on proposed junk food taxes this 2023. “We will begin briefings on junk food taxes,...
Are alcomixes your preferred drink? Then brace for possible higher prices for the beverage. (Unsplash) House Committee on Ways and Means chairman, Albay 2nd district Rep. Joey Salceda said Friday, Dec. 30 that his panel would look into "discussing taxation" on the commodity come 2023. "We will...
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...
House Ways and Means chair Rep. Joey Salceda has refiled the Digital Economy Value Added Tax (VAT) Law in the 19th Congress. (Cong. Joey Salceda’s office / FILE PHOTO / MANILA BULLETIN) Salceda filed House Bill (HB) 372 as a means to “close ambiguities” pertaining to Value Added Tax (VAT) and...
Although it is not in favor of taxing the honoraria of teachers, the Commission on Elections (Comelec) said it is beyond their jurisdiction. Comelec Commissioner George Erwin M. Garcia (Photo courtesy of Comelec FB) “Subalit iyan po ay (However, that is) beyond the jurisdiction of the Commission...
Actress Angelica Panganiban has asked her Twitter followers for "enlightenment" relating to a taxation quandary. She wrote: "Guys, please enlighten me (smiling face with open mouth and cold sweat emoji) honest question ito. Ano ang basehan ng customs sa pag tax ng item mo? Bakit mag kasing halaga...
BETTER DAYS Senator Sonny Angara Last December 2021, President Rodrigo Duterte signed into law Republic Act (RA) 11635, which amends Section 27(B) of the National Internal Revenue Code of 1997. This particular section of the NIRC deals with the tax treatment of proprietary educational institutions...
