The Duterte administration’s budget deficit registered only a marginal increase last November owing to improved revenue collections, data from the Bureau of the Treasury showed. The national government incurred a P128.7 billion fiscal gap last month, up by only 0.33 percent compared with P128.3...
The House of Representatives on Monday, August 23 passed on third and final reading the bill that proposes to define tax rates for proprietary schools in order to allow them to avail of the 10-percent preferential rate on taxable income. STUDENTS With all 203 members present voting in the...
The Bureau of Internal Revenue (BIR) would dig deep into the world of marketing to unearth social media influencers who are earning huge income without paying taxes, the Department of Finance (DOF) said. BIR LOGO Finance Undersecretary Antonette C. Tionko said Tuesday, August 17, that the issuance...
The Bureau of Internal Revenue (BIR) has issued a memorandum, dated Aug. 16, with the subject: "Taxation of Any Income Received by Social Media Influencers." The BIR said it has been receiving reports that certain social media influencers have not been paying their income taxes despite earning...
The House Ways and Means Committee on Monday, August 2, approved the draft measure that aims to define the tax rates for propriety educational institutions (PEIs) and allow them to avail of preferential rates on taxable income. House of Representatives4 House ways and means chairperson and Albay...
The Anti-Red Tape Authority (ARTA) said it will ensure the speedy processing for the turnover of the different rewards promised to Filipino Olympic Gold medalist Hidilyn Diaz. Hidilyn Diaz (AFP) ARTA Director-General Jeremiah Belgica made the statement following reports of many businesses pledging...
Senate Minority Leader Franklin Drilon on Thursday urged the Bureau of Internal Revenue (BIR) to affirm that all Olympic-related prizes, awards and incentives given to Gold Medalist Hidilyn Diaz should be tax exempt. Drilon said that until now the rules with regard to the treatment of such perks...
The local armed communist struggle will eventually be over following the government's strides in the anti-insurgency operations, according to President Duterte. President Duterte arrives at the Batasang Pambansa to deliver his sixth and final State of the Nation Address (SONA) Monday, July 26,...
The Philippines and Brunei Darrusalam have signed an agreement aimed at eliminating double taxation and preventing fiscal evasion on taxes on income arising from cross-border transactions between the two Southeast Asian nations. The agreement was signed by Finance Secretary Carlos G. Dominguez III...
Senator Risa Hontiveros has reiterated her stance that the Philippine Offshore Gaming Operations (POGO) would never be a good investment for the country. The Senate, on Wednesday night, passed on third and final reading Senate Bill No. 2232 which seeks to impose additional taxes on POGO operations...
The Bureau of Internal Revenue (BIR) should collect the P40-billion in unpaid franchise taxes of Philippine Offshore Gaming Operators or POGOs and they should leave the country once they’ve paid. Senator Risa Hontiveros made the call as she stressed that the social costs that came along with the...
President Duterte has certified as urgent the Senate bill that seeks to allow the government to enforce improved tax collection on Philippine Offshore Gaming Operators (POGOs). President Duterte (File photo/Malacañang) In a statement, Presidential Spokesman Harry Roque confirmed that Duterte...
