Senator Sherwin Gatchalian on Monday, July 10 said the Senate is eyeing the passage of the bill imposing a 12 percent value added tax (VAT) on digital transactions before the end of the year. Sen. Sherwin Gatchalian (Senate PRIB Photo) ...
(Keith Bacongco/ MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda highlighted on Friday, July 7 the estate tax amnesty exemption provision in the newly-signed Republic Act (RA) No.11953 or the New Agrarian Emancipation Act. Salceda, chairman of the House Committee on Ways and Means, went as...
Senator Raffy Tulfo on Sunday, July 2 criticized the Bureau of Internal Revenue’s (BIR) “anti-poor” plan to impose taxes on junk food and other food items next year. Sen. Raffy Tulfo (Senate PRIB Photo) Tulfo...
Department of Health (DOH) Secretary Teodoro "Ted" Herbosa expressed support for the proposed added tax on sugary drinks and junk food. (https://images.mb.com.ph/production/mb-mkt-neo-prod-1-uploads/photo_1613919113640_25732ec5e61f_432deff482/photo_1613919113640_25732ec5e61f_432deff482.avif)...
Bureau of Internal Revenue Commissioner Romeo D. Lumagui Jr. has taken a significant step to simplify the process of filing and processing value added tax (VAT) refund claims. *Bureau of Internal Revenue Commissioner Romeo D. Lumagui Jr. (File photo) * Effective July 1, two new revenue issuances,...
Senate President Juan Miguel “Migz” Zubiri signed the controversial Maharlika Investment fund (MIF) bill in Washington, DC, on Wednesday, June 21. He also signed the Estate Tax Amnesty Extension Act, and the act recognizing Baler, Aurora, as the birthplace of Philippine Surfing. Zubiri...
The Bureau of Internal Revenue (BIR) has filed a tax evasion case against a buyer and seller of two parcels of land in Pampanga with a zonal value of P10 million for alleged failure to pay the required capital gains and documentary stamp taxes. In a criminal complaint submitted to the Angeles City...
More heirs now have another chance to avail of the government’s estate tax amnesty program, Sen. Sherwin Gatchalian said. Gatchalian made the promise following the Senate’s approval on third and final reading of the proposed measure that seeks to extend the period of availment and simplify the...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) The measure extending the availment period of estate tax amnesty until June 14, 2025 no longer needs to undergo a Bicameral Conference Committee hearing, thereby hastening its potential enactment by Malacañang. This, after the House of...
The Philippines is working with the International Monetary Fund (IMF) in conducting a study aimed at addressing the low value-added tax (VAT) efficiency in the country. DOF Secretary Benjamin Diokno (Noel B. Pabalate) Finance Secretary Benjamin Diokno disclosed this on Tuesday, May 30, following a...
Over a thousand companies inside special export processing zones (EPZs) will undergo a fiscal incentives review after the Department of Finance (DOF) found the incentives system being abused, Finance Secretary Benjamin Diokno said on Tuesday, May 30. Finance Secretary Benjamin Diokno at the Palace...
President Ferdinand "Bongbong" Marcos Jr. told the Department of Finance (DOF) to continue looking into the current tax system in the country and find ways to level the playing field between foreign and local businesses. President Ferdinand 'Bongbong' Marcos Jr. (Photo courtesy of KJ Rosales/PPA...
