PMFTC Inc., the local affiliate of Philip Morris International (PMI), remained the country’s largest cigarette manufacturer in terms of sin tax contributions to government revenue, data from the Department of Finance (DOF) showed. PMFTC Based on the DOF’s analysis, the company behind the...
E-Cigarettes The Bureau of Internal Revenue (BIR) will start affixing tax stamps on e-cigarettes and heated tobacco products (HTP) to ensure tax compliance among manufacturers of these alternatives to traditional smoking. Based on BIR Revenue Regulations No. 28 dated Sept. 10, 2021, the the...
The Department of Finance (DOF) has urged the Senate to help guarantee the Philippines’ "strong economic rebound" from the lingering pandemic by swiftly approving the Duterte administration’s remaining economic reform measures. Finance Secretary Carlos G. Dominguez Finance Secretary Carlos G....
Senator Franklin Drilon on Sunday vowed to look into the tax records and liabilities of Pharmally Pharmaceutical Corp. which bagged multi-billion deals from the Department of Budget and Management’s procurement service (DBM-PS) during the stint of former undersecretary Christopher Lao. Citing red...
Rewards obtained from tipping off tax-evading vloggers and other social media influencers are still subject to tax from the very agency that would give them--the Bureau of Internal Revenue (BIR). Under the new reward payment schedule, an informant gets10 percent of whatever the BIR collects but the...
The same year he debuted as an actor, Kapuso star Mikael Daez also joined YouTube. As a social media pioneer, he was asked for his two cents on the Bureau of Internal Revenue's (BIR) memorandum relating to the “Taxation of Any Income Received by Social Media Influencers.” He said, "I think,...
The Bureau of Internal Revenue (BIR) and social media influencers and other digital workers have been asked to chill and give way to dialogue in addressing the taxation controversy that have put them at loggerheads. Axie Infinity Rizal 2nd District Rep. Fidel Nograles aired the appeal as he...
The proposed Hidilyn Diaz Act easily hurdled second reading passage in the House of Representatives on Tuesday, August 24. Hidilyn Diaz 2 House Bill 9990 seeks to clarify all laws on the imposition of taxes for bonuses, rewards, donations, gifts and other forms of emoluments granted to national...
The House of Representatives has provided another way for Filipinos to earn millions of pesos even without winning a gold medal in Olympic Games. House of Representatives plenary On Monday, August, 23, the legislative chamber gave its unanimous nod to the final reading approval of a bill that will...
Labor group Defend Jobs Philippines has slammed the government’s imposition of new tax measures on players of online play-to-earn (P2E) games such as Axie Infinity. (Photo from Alexandria San Juan) This, after the Department of Finance (DOF) earlier pronounced that earnings from these gaming...
With a sharp drop in enrollment practically conspiring with the imposition of higher taxes by the Bureau of Internal Revenue, the country’s private schools are turning to Congress for help in the swift adoption of legislative policy intervention. COCOPEA LOGO In a statement issued after the House...
The House of Representatives voted unanimously for the third and final reading approval of a bill that will exempt from income tax the honoraria, allowances and other financial benefits received by election workers. Poll workers Authored by members of the Makabayan bloc and Nueva Vizcaya Rep. Luisa...
