A group of Filipino tax experts has urged the public to faithfully comply with their tax filing obligations, saying non-compliance is now a punishable offense under existing regulations. In a statement, the Tax Management Association of the Philippines (TMAP), said on Saturday, Feb. 12, the...
Finance Secretary Carlos G. Dominguez III said that failure to file an income tax return (ITR) was not a violation under the 1977 National Internal Revenue Code (NIRC) as failure to file tax returns has become a punishable offense only in 1992. Dominguez issued this clarification Friday, Feb. 11,...
President Duterte spilled the beans Wednesday, Dec. 22 on the reason why popular television personality Willie Revillame turned down his offer to join the administration Senate slate. President Rodrigo Duterte (left) and Willie Revillame (Photos from Malacañang/ MANILA BULLETIN) Duterte was...
Local firm Vires Energy Corporation (VEC) has tapped the consortium of foreign firms Seanergy Singapore and London Marine Consultants to serve as owner’s engineer at the commissioning stage of the company’s proposed integrated liquefied natural gas (LNG) import terminal and power plant project....
Yuchengco-led PetroEnergy Resources Corporation (PERC) said its nine-month net income increased by 30 percent to P544 million from P417 million in the same period last year. From that scale of profitability, the energy firm’s net income went up by a significant 60 percent to P323 million from the...
Alcantara-led Alsons Consolidated Resources Inc. (ACR) posted a net income of P1.14 billion in the first nine months of this year, up 17 percent from P949 million same period in 2020. While the company is on its way to a post-pandemic recovery, it noted however that core earnings had been slightly...
Despite the re-imposition of stricter Covid-19 lockdowns within the third quarter, Pilipinas Shell Petroleum Corporation netted P3.4 billion in the first nine months this year. The oil firm profoundly regained its financial strength from P13.9-billion loss it registered on a comparative period last...
Petron nets P4.99-B in 9 months Myrna M. Velasco Leading oil firm Petron Corporation reported a net income of P4.99 billion in nine months this year, reversing a P12.6 billion in net loss in the same period last year. In a statement, the firm noted it continues “to show recovery amid the pandemic...
The core net income of power utility giant Manila Electric Company (Meralco) climbed by 15-percent to P18.062 billion in the nine-month period from P15.727 billion in the same period last year with the return of demand from the industrial sector. The company also reported that its net income surged...
The House Special Committee on Senior Citizens on Tuesday, Sept. 21, approved in principle a bill that would grant senior citizens an exemption from income taxes. (Mark Balmores/MANILA BULLETIN File Photo) House Bill No. 8832, filed by Senior Citizens' Party List Representative Rodolfo Ordanes,...
Pag-IBIG Fund posted earnings of P16.11 billion in the first half of 2021 amid the challenges posed by the continuing health crisis, a 14 percent increase compared to the same period last year, its top officials reported on Wednesday, 25 August. From January to June, Pag-IBIG Fund’s gross income...
The House of Representatives voted unanimously for the third and final reading approval of a bill that will exempt from income tax the honoraria, allowances and other financial benefits received by election workers. Poll workers Authored by members of the Makabayan bloc and Nueva Vizcaya Rep. Luisa...
