BIR Commissioner Romeo D. Lumagui Jr. received the prestigious "Business Enabler Award" from the Philippine Chamber of Commerce and Industry - Quezon City (PCCI-QC) last Jan. 25 during the latter's induction and turnover ceremovies. The award is given to Commissioner Lumagui for his significant...
The Bureau of Internal Revenue (BIR) has cautioned social media influencers considering tax evasion, emphasizing that the agency has mechanisms to accurately ascertain the earnings of all individuals involved. BIR Commissioner Romeo D. Lumagui Jr. said the bureau has various methods to effectively...
Finance Secretary Ralph G. Recto met with the government’s tax collectors to discuss strategic plans to achieve the Marcos administration's target of generating P4.3 trillion in revenues this year. On Tuesday, Jan. 23, Recto held a meeting with the Bureau of Internal Revenue's (BIR) management...
The Bureau of Internal Revenue (BIR) vowed to focus on addressing the common tax violations frequently encountered by business establishments. After conducting a two-day tax compliance verification drive (TCVD), the BIR compiled a list of prevalent tax compliance issues observed during visits to...
The Bureau of Internal Revenue (BIR) is intensifying its tax efficiency by actively reaching out to business owners to discuss their tax responsibilities, with the goal of enhancing its collection performance for the year. The Nationwide Tax Compliance Verification Drive (TCVD), which runs from...
The Land Transportation Office (LTO) has set a P43 billion revenue collection this year in the form of aggressive information drive and implementation of strategies that will convince more delinquent vehicle owners to renew their registration and for others to renew their registration on time. LTO...
Bureau of Internal Revenue (BIR) Commissioner Romeo Lumagui Jr. said that imposing withholding tax on online transactions will not increase the price of goods in online marketplaces. As per the BIR Revenue Regulations No. 16-2023, withholding tax will be imposed on one percent of the gross...
The Bureau of Internal Revenue (BIR) has increased the threshold for value-added tax (VAT) exemption on the sale of residential properties. In a statement, BIR Commissioner Romeo Lumagui Jr. said on Wednesday, Jan. 17, that house and lots, as well as other residential properties priced at P3.6...
Following his official assumption of office, Finance Secretary Ralph G. Recto wants to hold a series of meetings with the officials of all attached agencies and bureaus of the Department of Finance (DOF) this week. On Monday, Jan. 15, Recto immediately led briefings with key DOF offices following...
With the implementation of a law aimed at simplifying tax payments, the Bureau of Internal Revenue (BIR) has announced that it will no longer require business taxpayers to pay the annual registration fee (ARF). In a notice posted on its website and signed by BIR Commissioner Romeo D. Lumagui, Jr.,...
The Department of Finance (DOF) is urging the Bureau of Internal Revenue (BIR) to not only meet but surpass its record collection target for this year in order to provide additional funding for the priority programs and projects of the Marcos administration. In a statement released on Tuesday, Jan....
Senators on Monday, January 8, welcomed the signing of the Ease of Payment Taxes Act saying the new law would help foster transparency in the business processes and further boost the country’s economic development. “The signing of the Ease of Paying Taxes Act stands as a resounding...
