The Senate has approved on third and final reading Senate Bill (SB) No. 2219 extending the period of availment of estate tax amnesty. "Narinig po natin ang panawagan ng ating mga taxpayers, at ito na po ang ating sagot sa kanila (We heard the call of our taxpayers and this is our answer to...
Senator Sherwin Gatchalian on Sunday, May 28 said he is keen on proposing a provision in the estate tax amnesty extension bill that would allow an installment payment feature to help more taxpayers avail of a tax reprieve. The suggestion, he said, stemmed from comments made by Tax Management...
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) Albay 2nd district Rep. Joey Salceda knows a way to expedite the enactment of the proposed law extending the availment period of estate tax amnesty: skipping the bicam procedure. Salceda says he will recommend the adoption by the House...
Senators on Friday, May 19 urged the Bureau of Internal Revenue (BIR) to clarify if the various bills seeking to extend the availment of estate tax amnesty will benefit the family of President Ferdinand “Bongbong” Marcos Jr. From left to right: Vincent Marcos, Simon Marcos, Iloilo 1st...
Senator Jinggoy Ejercito Estrada has called on lawmakers to consider legislating a value-added tax (VAT) refund mechanism for foreign tourists to boost visitor arrivals in the Philippines. Estrada said granting a rebate of the 12 percent VAT on goods they bought from the country, similar to...
Senator Sherwin Gatchalian has filed a bill seeking to simplify and extend the government’s estate tax amnesty program for two more years in response to the clamor of taxpayers to avail of a tax reprieve. Gatchalian, chairman of the Senate Committee on Ways and Means, filed Senate Bill No. 2197...
Don’t blame us. Senate President Juan Miguel F. Zubiri on Tuesday, May 16, issued this statement after stressing that passage of a bill requires the reglamentary legislative process. Zubiri was apparently piqued at Congressman Joey Salceda who has called on the Senate to pass quickly a bill that...
Albay 2nd district Rep. Joey Salceda (Rep. Salceda's office) Albay 2nd district Rep. Joey Salceda of the House of Representatives has challenged the Senate to "match their speed" when it comes to legislation. “I urge the Senate, for this and in general, try to match the speed with which the House...
House of Representatives (PPAB) An estimated one million families are expected to benefit from the bill extending the availment period of estate tax amnesty--the same bill that was passed on third and final reading by the House of Representatives on Monday afternoon, May 15. Given final nod by the...
Mass housing developers have asked the Board of Investments (BOI) to raise to P4 million from the current P2 million threshold price per housing unit that would be eligible for government tax incentives, and extend the income tax holiday (ITH) availment period to six years from four years. In its...
Taxpayers were reminded by the Bureau of Internal Revenue (BIR) that they have until Monday, May 15, to submit their quarterly income tax return for individuals, estates, and trusts. (File photo) This deadline also applies to eligible self-employed individuals and professionals who wish to avail of...
The House plenary. (Ellson Quismorio/ MANILA BULLETIN) The bill seeking to extend by another two years the availment of estate tax amnesty breezed through House plenary Tuesday afternoon, May 8, en route to its second reading passage. Declared approved on second reading was House Bill (HB) No.7909,...
