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...
President Ferdinand “Bongbong” Marcos Jr. should prioritize the bill seeking to repeal the law taxing Philippine Offshore Gaming Operators (POGOs) operating in the country, Senator Joel Villanueva said on Wednesday, July 31. “Other than the fact that we are responding to the call of...
The Court of Tax Appeals (CTA) has denied for lack of jurisdiction the petition filed by Li-son Transport Service, Inc. which sought the cancellation of the P5.5 million deficiency tax assessments issued by the Bureau of Internal Revenue (BIR) for taxable year 2018. Li-son Transport received a...
For filing a premature pleading that resulted in lack of jurisdiction, the Court of Tax Appeals (CTA) dismissed the petition filed by Pentagon Gas Corporation against the P27.67 million deficiency tax assessments issued by the Bureau of Internal Revenue (BIR) for taxable year 2014. The BIR issued a...
The Court of Tax Appeals (CTA) has denied the P6.55 million tax refund claimed by SL Harbor Bulk Terminal Corporation from the Bureau of Internal Revenue (BIR). The company filed an administrative claim for tax credit before the BIR on Sept. 18, 2020 on excise taxes paid on the importation of...
Online marketplaces like Facebook and Shopee may be shut down if unregistered online sellers are still able to sell on their platforms, Bureau of Internal Revenue (BIR) Commissioner Romeo D. Lumagui Jr. said. Lumagui told reporters on Wednesday, July 17, that online sellers whose businesses are not...
The Bureau of Customs (BOC), the government's second-largest tax agency, is poised to surpass its revenue target this year, potentially hitting a record of nearly P1 trillion. Assistant Commissioner and Spokesperson Vincent Philip Maronilla said the BOC’s internal target is to exceed its 2024...
By CZARINA NICOLE ONG KI The Court of Tax Appeals (CTA) has denied the P262 million tax refund claimed by Ford Group Philippines, Inc. for the firm's alleged excess and unutilized creditable withholding taxes (CWT) for 2018. Ford filed its Application for Tax Credits/Refunds before the Bureau of...
For lack of jurisdiction, the Court of Tax Appeals (CTA) has dismissed the petition filed by HP PPS Philippines, Inc. which sought P165.2 million tax refund or tax credits from the Bureau of Internal Revenue (BIR) for fiscal year 2017. HP PPS, a firm engaged in computer and peripheral equipment...
Department of Finance Secretary Ralph G. Recto called on the government’s two main tax agencies to expedite their digitalization efforts to reach the P4.27 trillion target for this year. During a meeting on Wednesday, July 11, Recto discussed with the Bureau of Internal Revenue (BIR) and the...
The Court of Tax Appeals (CTA) has denied the P20.8 million tax refund sought by Nippon Express Philippines Corporation from the Bureau of Internal Revenue (BIR) for the firm's alleged unutilized input value-added tax (VAT) for the 3rd quarter of 2018. Nippon Express filed an administrative claim...
Camarines Sur 2nd district Rep. LRay Villafuerte (Rep. Villafuerte's Facebook) Camarines Sur 2nd district Rep. LRay Villafuerte said local government units (LGUs) will have more resources to spend next year on programs benefitting senior citizens, persons...
