Some P6 billion in excise taxes from the tobacco industry have been lost so far this year due to illicit trade and shift to electric cigarettes, an official from the Bureau of Internal Revenue (BIR) said. Venus Gaticales, BIR chief of excise large taxpayers field operations division, told reporters...
The Court of Tax Appeals (CTA) has affirmed its division's ruling that denied the petition of Sanyo Seiki Stainless Steel Corporation against the Bureau of Internal Revenue's (BIR) P51.99 million deficiency income tax assessment issued in 2006. The BIR sent a Letter Notice to Sanyo on Oct. 23,...
Revenue collection by the Bureau of Customs (BOC) grew by seven percent from January to May of this year. During the Department of Finance's Executive Committee meeting, BOC Commissioner Bienvenido Y. Rubio reported that its revenue performance increased to P330.27 billion as of May 13. This...
In response to the shifting consumer preferences towards e-commerce, the Department of Finance (DOF) wants to bring the country's tax collection system in line with the best practices of three leading Asian nations. Finance Secretary Ralph G. Recto said the Bureau of Internal Revenue (BIR) and the...
Tingog Party-list Rep. Jude Acidre (Ellson Quismorio/ MANILA BULLETIN) House Deputy Majority Leader Tingog Party-list Rep. Jude Acidre has echoed Speaker Martin Romualdez's call for the Bureau of Internal Revenue (BIR) to ensure that it hits...
The Bureau of Internal Revenue (BIR) has acknowledged the Department of Finance's (DOF) role in achieving higher tax collections and executing successful enforcement operations. In a Facebook post, BIR Commissioner Romeo “Jun” Lumagui Jr. expressed his appreciation for the unwavering guidance...
The Court of Tax Appeals (CTA) has granted the petition of former Chief Justice Maria Lourdes P.A. Sereno against her alleged P6.9 million deficiency income taxes, surcharges, and interests for taxable years 2011 to 2016. In a decision promulgated last May 14 by its special second division, the CTA...
AnaKalusugan Party-list Rep. Ray Reyes (Facebook) A pro-health solon has hailed President Marcos' directive for the Bureau of Internal Revenue (BIR) to clamp down on illegal vape products and cigarettes. "We share the President's concern as...
(Unsplash) House Speaker Martin Romualdez prodded the Bureau of Internal Revenue (BIR) to make sure that it attains its targets this year, as he stressed the importance of such to the economy. "Hitting revenue targets means...
The Bureau of Internal Revenue (BIR) announced that it will begin confiscating vape products lacking tax stamps starting in June and will enforce legal consequences on individuals caught with these items. In a statement, BIR Commissioner Romeo D. Lumagui Jr. said that vape manufacturers and...
The Bureau of Internal Revenue (BIR) has announced a new requirement for tax stamps to be affixed on all vape products sold in the country. Effective June 1, 2024, the BIR's Revenue Memorandum Circular 59-2024 mandated the use of 4th Generation Internal Revenue Stamps on vapor products. The...
Despite a recent downward revision in the economic growth outlook, the Department of Finance (DOF) said that the Marcos administration is standing by its tax collection target for the year. Finance Secretary Ralph G. Recto said that the Bureau of Internal Revenue (BIR) and the Bureau of Customs are...
