The national government’s fiscal deficit reached ₱786.8 billion in the first half of the year, widening from the ₱765.5 billion shortfall recorded in the same period in 2025 as state spending outpaced revenue growth. Despite the year-on-year increase, the Bureau of the Treasury (BTr) noted in...
Bureau of Customs (BOC) Commissioner Ariel F. Nepomuceno has ordered to maintain round-the-clock surveillance in a bid to prevent illicit activities concerning seized cigarettes particularly at Manila and Cebu ports. Formalized in a memorandum dated July 20, the directive outlines an urgent...
The Bureau of Internal Revenue (BIR) issued guidelines on the creditable withholding tax applied to wholesale purchases to resolve industry confusion and standardize compliance across major corporate buyers and manufacturers. Under Revenue Memorandum Circular No. 79-2026, published on July 20, the...
The Bureau of Internal Revenue (BIR) issued updated rules simplifying tax clearances for real estate sales, estate settlements, and stock transfers to eliminate administrative bottlenecks that frequently delay property transfers in the country. Through Revenue Memorandum Circular No. 75-2026, the...
The Bureau of Internal Revenue (BIR) won an international award for its digital tax calendar, a milestone in the government’s push to modernize its revenue collection systems and improve taxpayer compliance. The country’s primary tax-collection agency received the Philippines Digital...
Cabinet-level interagency Development Budget Coordination Committee (DBCC) has lowered the revenue goal for the Bureau of Internal Revenue (BIR) for this year but raised the target for the Bureau of Customs (BOC), in tandem with the downgraded economic growth outlook. According to data disclosed by...
The Senate impeachment court is set to hear oral arguments next week on whether or not it should issue subpoenas for the bank and tax records sought by the House prosecution against Vice President Sara Duterte, her husband Mans Carpio, and several businesses allegedly linked to her. The oral...
The government restored excise taxes on liquefied petroleum gas (LPG) and kerosene after global oil prices fell below the state-mandated threshold, ending the temporary tax holiday designed to shield consumers from high energy costs. The Bureau of Internal Revenue (BIR) announced on Wednesday, July...
Batangas 2nd district Rep. Gerville "Jinky Bitrics" Luistro rejected the notion that the House prosecution team was "beaten" on the first day of Vice President Sara Duterte 's Senate impeachment trial. In fact, Luistro, the lead prosecutor, was quite adamant that they were "victorious" Monday,...
The Senate Impeachment Court on Monday, July 6, ordered the return of a sealed box containing the tax records of Vice President Sara Duterte and her husband, Manases Carpio, ruling that the documents are not yet under the court 's custody and have not been admitted into evidence. Impeachment...
Manila 3rd district Rep. Joel Chua drew parallels between the unopened Bureau of Internal Revenue (BIR) box in Vice President Sara Duterte 's impeachment trial case and the controversial “second envelope” in former president Joseph Estrada 's impeachment trial. Chua, speaking during...
It will be all about formalities during the first day of Vice President Sara Duterte’s Senate impeachment trial on Monday, July 6. Thus, said House prosecutor Manila 3rd district Rep. Joel Chua, even as he clarified that no witnesses would be presented on the first day of the high-stakes...
