The Bureau of Internal Revenue (BIR) filed multiple criminal complaints against buyers of “ghost receipts” to crack down on fraudulent tax evasion schemes. In a statement, BIR Commissioner Romeo D. Lumagui Jr. said the bureau filed criminal complaints before the Department of Justice (DOJ) on...
Despite meeting its first-half revenue target, Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. believes that hitting the “too high” ₱3.2-trillion full-year goal could be an uphill battle if regulators move to ban online gambling, a measure that may significantly dent tax...
The local stock market will be taking cues from several Philippine economic reports—including inflation, jobs, and gross domestic product (GDP)—as well as corporate earnings while the recent weakness of the peso and concern over United States (US) tariffs will continue to cast a shadow over...
China Banking Corp. (Chinabank), a member of the SM Group, reported a 14-percent growth in net income to a record ₱13 billion in the first six months of 2025 over the same period last year on the back of strong core business growth. In a disclosure to the Philippine Stock Exchange (PSE), the bank...
The Securities and Exchange Commission (SEC) emphasized that credible data and transparency are critical in driving sustainable finance and advancing environmental, social, and governance (ESG) outcomes. During the CRIF Forum 2025, SEC Commissioner Javey Paul D. Francisco challenged businesses and...
WASHINGTON (AP) — Emma Raducanu reached the semifinals at the D.C. Open — the biggest tournament where she 's made it that far since her surprising 2021 U.S. Open title — by eliminating Maria Sakkari, 6-4, 7-5, on Friday, July 25. On a muggy day with the temperature topping 90 degrees...
The Department of Justice (DOJ) has filed criminal charges against popular footwear brand World Balance and its corporate officers for an alleged ₱178.8 million in basic tax deficiencies, a result of the company 's use of fictitious receipts from ghost companies. In a statement on Monday,...
Despite hitting its first-half collection target of ₱1.5 trillion and even modestly exceeding it, the Bureau of Internal Revenue (BIR) hinted at the possibility of downscaling its full-year ₱3.2 trillion target, as the country’s main tax collection agency may fall short of it. “I think...
D&L Industries Inc., the country’s top specialty food ingredients and oleochemicals producer, has maintained the top Issue Credit Rating of PRS Aaa with a Stable Outlook for its ₱2 billion outstanding Fixed Rate Bonds assigned by Philippine Rating Services Corporation (PhilRatings). Obligations...
Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui, Jr. has been awarded an Executive Certificate in Public Leadership from the Harvard Kennedy School (HKS on his dedication to continuous professional development and exemplary public service. Lumagui earned this certificate by...
Construction firm EEI Corp. reported that it has received the notice of award from the Department of Public Works and Highways (DPWH) for the design and build of the ₱15.75-billion first phase of the Philippine International Exhibition Center (PIEC). In a disclosure to the Philippine Stock...
The Bureau of Internal Revenue (BIR) has elevated two tax evasion cases, totaling ₱796.95 million, to the Court of Tax Appeals (CTA) after the Department of Justice (DOJ) ruled in government’s favor. In a statement on Monday, July 7, BIR Commissioner Romeo D. Lumagui, Jr. noted that criminal...
