During intense deliberations that preceded the 2005 enactment of the Expanded Value Added Tax (E-VAT) Law, which also covered oil and electricity, lawmakers defended the measure as a treasury-tightening mechanism; an unpopular but calculated imposition designed to raise massive revenues so it could...
The camp of Vice President Sara Duterte’s husband, lawyer Manases “Mans” Carpio, clarified on Friday, May 8, that the case filed before the Regional Trial Court (RTC) of Quezon City does not seek to stop or interfere with the ongoing impeachment proceedings in Congress, but instead focuses...
ILOILO CITY – The Supreme Court has junked the petition that questioned the real property tax increase by the Iloilo City government under the administration of Mayor Jerry Treñas. The SC en banc dismissed the March 2024 petition of the Riverside Group of Companies for failure to follow legal...
The Department of Finance (DOF) is moving to overhaul the country’s real estate taxation, targeting 2028 for the full rollout of a market value-based property valuation system. In a statement, the DOF said the initiative aims to replace the long-standing and currently suspended zonal value...
Business and employer groups are urging the government to consider the potential removal or suspension of the value-added tax (VAT) on essential goods as a buffer against economic pressures caused by the Middle East conflict. In a joint statement on Thursday, April 30, the Leaders Forum called for...
The Senate is still waiting for the Department of Finance’s (DOF) insight on the bill seeking to extend the period of availment of estate tax amnesty. This, according to the Senate Committee on Ways and Means, the primary committee chaired by Sen. Pia Cayetano that is tasked to oversee...
In one of the more contentious side topics of Vice President Sara Duterte’s impeachment hearings, the House Committee on Justice voted on Wednesday, April 29 not to open the sealed box of tax records submitted by the Bureau of Internal Revenue (BIR) containing the income tax returns of Vice...
While delinquent estate taxpayers may avail themselves of installment payments under the amnesty program, the taxman warned that missing due dates will result in the forfeiture of amnesty benefits. “Installment payment may be allowed within two years from the statutory date of its payment without...
Tax authorities filed a criminal complaint against former presidential spokesperson Herminio “Harry” Roque Jr., his wife, and a business associate for alleged tax evasion involving their holding company. In a statement, the Bureau of Internal Revenue (BIR) said the agency submitted the...
President Marcos convened the fourth meeting of the UPLIFT Committee on Tuesday, April 21, but there is no word yet on the fate of the excise tax on diesel and gasoline. Palace Press Officer and Communications Undersecretary Claire Castro said the matter was not discussed during the meeting. "Hindi...
Suspending the excise tax offers a better respite than telling oil companies to fully implement a fuel price rollback, Senator Risa Hontiveros said on Monday, April 20. Hontiveros pointed this out in response to President Ferdinand “Bongbong” Marcos, Jr.’s directive for oil companies to...
Senator Sherwin Gatchalian is pushing for suspension of excise tax on diesel, arguing that it is the "fuel for the masses." While President Marcos already suspended excise tax on liquefied petroleum gas (LPG) and kerosene, Gatchalian wanted to expand scope of such suspension on oil products to...
