The Bureau of Customs (BOC) has achieved a P862.929 billion revenue collection for 2022, which it said, did not only exceed its tax collection for the year but also set the agency's record that all ports exceeded their annual collection targets. "It was the first time in the BOC history that all...
Distributors and sellers of vaporized nicotine and non-nicotine products must comply with the requirements of the Department of Trade and Industry (DTI) and the Bureau of Internal Revenue (BIR) following the seizure of tons of smuggled and untaxed vape products from five big time illicit vape...
The country’s 2022 tourism industry generated P208.96 billion ($3.68 billion) in revenues, a whopping 2,465 percent increase from 2021, with 2.65 million international visitor arrivals as of end this year and setting the stage for a more vibrant 2023, the Department of Tourism reported. In a...
Revenue collection is on track to hit the government's full-year target this year driven by the Bureau of Customs’ better than expected performance, data from the Bureau of the Treasury showed. Based on the Treasury report on Tuesday, Dec. 27, total revenues reached P3.277 billion from January to...
The Bureau of Internal Revenue (BIR) has filed charges against businesses selling smuggled and untaxed Vape products. BIR Commissioner Romeo D. Lumagui Jr. said on Tuesday, Dec. 13, said the bureau filed a criminal complaint and a separate a civil case against four individuals, whose businesses...
The Bureau of the Treasury cancelled its last borrowing plan for the year given the government’s better than expected revenue collection performance, resulting in lower borrowing than originally planned. National Treasurer Rosalia V. De Leon said on Monday, Dec. 12, that the bureau already...
The Bureau of Internal Revenue (BIR), the government’s main tax agency, announced that it exceeded its collection target in October this year, but still behind its 10-month goal. On Thursday, Dec. 1, the BIR reported that it generated P186.76 billion in October, higher by 1.5 percent or P2.23...
The newly-minted chief of the Bureau of the Internal Revenue (BIR) has ordered the resumption of audit and mission order issuances to run after suspected tax evaders. In a revenue memorandum circular dated Nov. 21, 2022, BIR Commissioner Romeo D. Lumagui Jr. lifted the suspension of field audits to...
The Bureau of Internal Revenue (BIR) has issued its guidelines for the implementation of the Vape Law that also set the floor price for heated, vapor, and other tobacco products. On Thursday, Nov. 17, the BIR published Revenue Regulations No. 14-2022, which serves as its implementing rules and...
The Department of Finance (DOF) vowed to modernize the government’s main tax agencies following the swift approval of its proposed budget for next year. In a statement, Finance Secretary Benjamin E. Diokno said on Monday, Oct. 3, that the DOF is planning to spend P30.57 billion in 2023, higher by...
As part of the Marcos administration’s digitalization shift, the Bureau of Internal Revenue (BIR) plans to right-size its workforce and hire scientists and cybersecurity experts to improve collections. BIR Commissioner Lilia C. Guillermo said she wants to strengthen the bureau’s organization,...
Unfazed by calls to go after big-time tax evaders before vloggers and online sellers, the Bureau of Internal Revenue (BIR) has asserted that the agency is really determined to collect taxes from prominent influencers. During the SGV Tax Symposium on Friday, Aug. 19, BIR Commissioner Lilia C....
