Senator Pia Cayetano on Tuesday, August 3 vowed to expedite the passage of the bill that seeks to clarify the controversy regarding the preferential tax rates of private schools. Cayetano, who chairs the Senate Ways and Means Committee, said she is now waiting for the transmittal of the House of...
The House Ways and Means Committee on Monday, August 2, approved the draft measure that aims to define the tax rates for propriety educational institutions (PEIs) and allow them to avail of preferential rates on taxable income. House of Representatives4 House ways and means chairperson and Albay...
The Court of Tax Appeals (CTA) has nullified the almost P4-million deficiency tax assessment of the Bureau of Internal Revenue (BIR) against a supplier of industrial equipment after the agency failed to follow the correct audit procedure. (Photo from PNA) The court's third division stated that the...
The Court of Tax Appeals (CTA) has rejected the P4.4-million tax refund petition of Philippine Airlines (PAL) for the importation of cigarettes and liquor for its in-flight and commissary supplies. (Photo from Philippine Airlines Facebook page) PAL paid the amount in 2012 and 2013, but did so under...
The Anti-Red Tape Authority (ARTA) said it will ensure the speedy processing for the turnover of the different rewards promised to Filipino Olympic Gold medalist Hidilyn Diaz. Hidilyn Diaz (AFP) ARTA Director-General Jeremiah Belgica made the statement following reports of many businesses pledging...
Quezon City 2nd District Rep. Precious Hipolito Castelo believes a sports hero like Hidilyn Diaz who has given Filipinos a reason to celebrate in the face of natural and public health devastations should be allowed to fully enjoy the fruits of their labor. Hidilyn Diaz To do this, Castelo has filed...
Tax payment deliquency has cost San Juan City over P233 million in uncollected real estate taxes thus depriving the city government much needed funds to finance its various programs, projects and activities. The Commission on Audit (COA) also lamented that the city has incurred foregone realty tax...
Presidential Spokesman Harry Roque asked Congress to pass a law that would exempt Olympic Gold medalist Hidilyn Diaz's cash rewards from tax, saying no Filipino wanted to deduct from her much-deserved prizes. Hidilyn Diaz's gold medal-winning lift (Photo from AFP) Roque made the statement after the...
Senators on Thurday, July 29, again called for an amendment of the country's tax code to provide a "permanent" solution to the erroneous interpretation of the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act. Senate President Pro Tempore Ralph Recto (Senate PRIB) Senate President...
Senator Sonny Angara on Thursday, July 29 welcomed the decision of the Department of Finance (DOF) and the Bureau of Internal Revenue (BIR) in suspending the implementation of the new tax regulations on private schools and giving Congress sufficient time to fix the confusion caused by the law....
Senate President Vicente Sotto III directed on Wednesday, July 28, the chamber's rules committee to look into the possibility of pushing tax exemptions for the rewards and gifts to be given to Olympic gold medalist Hidilyn Diaz. Olympic gold medalist Hidilyn Diaz (AFP) During the Senate's plenary...
The Philippine Amusement and Gaming Corp. (PAGCOR) is against proposals to provide certain advantages to special economic zones involved in Philippine offshore gaming operations (POGO). Andrea D. Domingo, PAGCOR chairman and chief executive officer said Wednesday, July 28 that the government’s...
