The Bureau of Internal Revenue (BIR) said value-added taxpayers are no longer required to file the return on a monthly basis starting this month. Bureau of Internal Revenue The new schedule was contained in Revenue Memorandum Circular (RMC) No. 5-2023 which implemented Section 37 of Tax Reform for...
The Bureau of Internal Revenue (BIR) has raided perpetrators of illicit cigarette trade across the country, placing all regional enforcers on alert while their operations were ongoing on 378 stores in Luzon, Visayas, and Mindanao. BIR Commissioner Romeo Lumagui Jr. led a raid on Wednesday, Jan. 25,...
The names of alleged big-time oil smugglers were revealed on Thursday, January 19 during a Senate consultation meeting called by Senator Raffy Tulfo with the Bureau of Internal Revenue (BIR) and Bureau of Customs (BOC) on the controversial fuel marking program. Tulfo, chairman of the Senate energy...
Makati City Mayor Abby Binay announced on Tuesday, Jan. 17, that the city has collected more than P20.92 billion in revenue for the year 2022. The lady mayor expressed hope that the increase in the revenue being projected by the city is a good sign of better times for Makatizens amid the social and...
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...
