Finance Secretary Carlos G. Dominguez III said that failure to file an income tax return (ITR) was not a violation under the 1977 National Internal Revenue Code (NIRC) as failure to file tax returns has become a punishable offense only in 1992. Dominguez issued this clarification Friday, Feb. 11,...
The Court of Tax Appeals (CTA) has cleared a businesswoman in Quezon City of P72-million tax evasion case filed by the Bureau of Internal Revenue (BIR) for insufficient evidence. Philippine big banks continue to have sufficient capital amid the pandemic. (File photo) The court's Third Division...
The ultra-wealthy families in the Philippines won't struggle with paying a wealth tax, Partido Lakas ng Masa (PLM) presidential candidate Leodegario “Ka Leody” de Guzman said. Presidential Candidate Leodegario "Ka Leody" De Guzman (Photo from Ka Leody De Guzman FB/ MANILA BULLETIN) “Hindi...
Paranaque City Mayor Edwin Olivarez announced on Monday, Feb. 7, that the city's Business Permit and Licensing Office (BPLO) headed by Atty. Melanie Soriano-Malaya was able to collect P3.6-billion in business taxes for the year 2021. Olivarez, during Monday's virtual flag raising ceremony, said...
A massive warehouse in Nueva Ecija with the size of five basketball courts was raided recently by the Bureau of Internal Revenue (BIR) for illegally operating as a printing facility for counterfeit cigarette labels and packaging materials. In a statement, the BIR Tobacco Strike Team said the...
The Duterte administration’s revenue effort since it took office emerged as the highest among different presidential terms in over two decades, the Department of Finance (DOF) boasted. In a report to Finance Secretary Carlos G. Dominguez III by the DOF’s Domestic Finance Group (DFG), it said...
Finance Secretary Carlos G. Dominguez III called on tax management professionals to help build trust among taxpayers and encourage them to pay the right amount of taxes instead of finding “loopholes” for their clients to get away and avoid tax obligations. Dominguez said that although the...
Presidential aspirant Leody "Ka Leody" de Guzman will impose hefty tax on the country's wealthiest individuals if elected in the position in a bid to resolve inequality and help the people. During Kapisanan ng Broadkaster ng Pilipinas' presidential forum on Friday, de Guzman said he will impose...
The Bureau of the Internal Revenue (BIR), the government’s main tax agency, has missed its collection target last year, the Department of Finance (DOF) reported on Friday, Jan. 28. Citing preliminary reports from the BIR, the DOF said the bureau collected P2.07 trillion from January to December...
The Department of the Interior and Local Government (DILG) said Friday, Jan. 28, that the local government units (LGUs) can now better implement poverty alleviation and development programs with their bigger tax allotment share. (DILG logo) This was stressed by the DILG as the Community-Based...
The Department of Finance (DOF) said the government will finalize within this month the Strategic Investment Priority Plan (SIPP) of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) law. In a statement, Finance Secretary Carlos G. Dominguez III said on Wednesday, Jan. 12, that the...
Senator Nancy Binay on Tuesday urged local government units (LGUs) to extend the deadline for payment for real property tax and business permits to avoid influx of taxpayers amid the surge of COVID-19 cases in the country. Binay made the appeal after the Department of Health (DOH) reported 33,169...
