The Bureau of Internal Revenue (BIR) has approved an additional 15 medicines to be exempt from value-added tax (VAT) for treating cancer, high cholesterol, hypertension, and mental illness. This updated list of tax-exempt medicines was released following a recommendation from the Food and Drug...
Two-time Olympic gold medalist Carlos Yulo will not be required to pay taxes on his winnings and incentives, according to the Bureau of Internal Revenue (BIR). BIR Commissioner Romeo D. Lumgui Jr. explained that prizes, awards, rewards, gifts, or donations received by Yulo are not subject to...
The Bureau of Internal Revenue (BIR) has warned celebrities and influencers against promoting vape products that may not comply with tax regulations. In a statement on Thursday, Aug. 22, BIR Commissioner Romeo D. Lumagui Jr. urged public figures to verify the tax compliance of the vape products...
The festive mood took a hit on Sunday, Aug. 18, when the Bureau of Internal Revenue (BIR) conducted a raid at the Philippine Vape Festival 2024, targeting illegal products. BIR Commissioner Romeo D. Lumagui Jr. headed a team that raided this year's vape festival in Las Piñas after surveillance...
The Department of Finance (DOF) announced that the government's two main tax agencies have already achieved over half of their full-year collection target in just the first seven months of the year, primarily fueled by digitalization efforts. Tax revenues from the Bureau of Internal Revenue (BIR)...
Tax evasion complaint was filed by the Bureau of Internal Revenue (BIR) before the Department of Justice (DOJ) against dismissed mayor Alice L. Guo of Bamban, Tarlac in connection with the transfer and later sale of her shares at Baofu Land Development, Inc. Aside from Guo, also charged in the...
Department of Finance (DOF) Secretary Ralph G. Recto said the government will work on collecting tax revenues to match the economic growth relative to the country's gross domestic product (GDP). During a Senate committee hearing, Recto said that the two main tax agencies should work hard to boost...
Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. announced another successful confiscation of 7,920 units of illegal vape products, estimated to have a tax liability of around P7 million, following a raid in Taytay, Rizal. The operation was initiated after a concerned citizen...
The Department of Finance (DOF) is projecting an uptick in revenues from "sin" products next year, driven by increased collections from alcoholic beverages. Data from the DOF showed that excise tax collections from tobacco and alcohol are estimated to reach P278.97 billion in 2025, an eight percent...
Have you ever thought about the cost efficiency of the Bureau of Internal Revenue (BIR) in generating revenue for the government? It only takes 52 centavos to generate P100. During a recent event celebrating the BIR's anniversary, Finance Secretary Ralph G. Recto highlighted the importance of the...
The Bureau of Internal Revenue (BIR) unveiled on Thursday its new logo during its 120th anniversary. Its previous logo had not been changed for the past 60 years, the BIR said. Earlier, the BIR held a logo-making contest with the best entry to be rewarded P100,000. The logo, BIR Commissioner Romeo...
The Bureau of Internal Revenue's (BIR) specialized unit responsible for managing the tax affairs of large corporations is expected to exceed its collection target this year. Based on the amended 2024 BIR collection program, the Large Taxpayers Service (LTS) has revised the collection goal to P1.883...
