The Department of Finance (DOF) has instructed the Bureau of Internal Revenue (BIR) to pursue discussions with Russian tax officials on further improving the Philippines’ tax administration system through digitalization. In a statement, Finance Secretary Carlos G. Dominguez III said on Thursday,...
Tax collections from tobacco products increased by nearly three-fourths as of mid-February this year after one cigarette manufacturer commenced the operation of its new facility in Batangas, the Bureau of Internal Revenue (BIR) said. In a statement, BIR Deputy Commissioner Arnel Guballa reported to...
The enactment of the Financial Institutions Strategic Transfer (FIST) law, which is expected to free up over P1 trillion worth of banks’ soured loans and non-performing assets and assist 600,000 micro, small and medium enterprises (MSMEs), will ensure the stability of the local financial system...
The Securities and Exchange Commission (SEC) is seeking public comments for the draft Implementing Rules and Regulations (IRR) of Republic Act No. 11523 or the Financial Institutions Strategic Transfer (FIST) Act, a critical economic measure in the Philippines’ economic recovery. In a...
The Duterte administration’s chief economic manger expects the Bureau of the Internal Revenue (BIR), the government’s main tax agency, will surpass its collection target this year. Speaking at the virtual BIR’s Tax Campaign Kick-off ceremony on Wednesday, Feb. 17, Finance Secretary Carlos G....
The United States and the Department of Finance (DOF) sealed a grant that will fund the digital transformation program of the Bureau of Internal Revenue (BIR) described as “fully functional and irreversible.” During the signing ceremonies for the grant agreement Tuesday, Feb. 16, Finance...
The Bureau of Internal Revenue (BIR), the government’s main tax collection agency, has laid down its programs for the year to raise its collection performance to support its goal for a 7.23 percent increase in tax collection this year. In a statement, BIR Commissioner Caesar R. Dulay said the...
GCash e-payments for the Bureau of Internal Revenue (BIR) taxes soared last year, signifying a shift in user behavior, where customers find it more convenient to pay digitally, the leading mobile electronic wallet provider said. In a statement, Martha Sazon, Gcash president and chief executive,...
Bureau of Internal Revenue (BIR) Commissioner Caesar R. Dulay has relayed to national and regional offices the more than P2.081-trillion collection goal of the agency for this year. (MANILA BULLETIN) The BIR chief said in a memorandum that P2.017 trillion will be generated from operations, with the...
The Philippine E-Cigarette Industry Association (PECIA) said the proposed floor price and production cost formula in the computation of excise tax on tobacco products, heated and vapor tobacco products are largely unrealistic and too high. In a statement, PECIA, which counts around 200 active...
Officials of the Bureau of Internal Revenue (BIR) and the Federal Tax Service (FTS) of Russia have met recently to discuss the latter’s best practices that could be applied in the Philippines to further improve its tax administration and compliance. On orders of Finance...
The Department of Finance (DOF) expects the full nationwide implementation of the fuel marking program and several digitalization projects this year to improve the government’s tax administration. According to a report by the DOF’s Revenue Operations Group (ROG), it expects the fuel marking...
