Senator Sherwin Gatchalian has expressed concern over the widespread smuggling and illicit trade of excisable products, including cigarettes and vapes, warning this could lead to peace and order issues. Aside from this, Gatchalian also said such activities erode the country’s revenue...
House of Representatives (Ellson Quismorio/ MANILA BULLETIN) Power grid operator National Grid Corporation of the Philippines (NGCP) has been religiously paying its three percent franchise tax as mandated by law. This was...
The Court of Tax Appeals (CTA) has denied the petition of the estate of slain businessman Henry T. Lao for the refund of P350 million in alleged illegally collected income tax and value-added tax (VAT) for taxable year 2015. The denial was contained in a decision promulgated last Dec. 19 based on...
FOR THURSDAY Now is the time to raise so-called "sin" taxes slapped on tobacco, alcoholic and sugary drinks as these industries' global sales recovered quickly post-pandemic, according to the Washington-based Center for Global Development (CGD). "The generally harmful impact of the pandemic...
The Court of Tax Appeals (CTA) has denied the P8.4 million tax refund sought by an agricultural firm from the Bureau of Internal Revenue (BIR). Denied was the petition filed by MD Rio Vista Agri-Ventures, a corporation based in Compostela Valley province and is primarily engaged in...
President Marcos’ chief economic manager stated that he expects an additional P300 billion to be injected into the government’s treasury over the next five years following the planned revision of existing passive income tax law. Department of Finance (DOF) Secretary Ralph G. Recto, during...
Camarines Sur 2nd district Rep. LRay Villafuerte (PPAB) Camarines Sur 2nd district Rep. LRay Villafuerte says generous tax incentives await businesses partnering with the government on the Enterprise-Based Education and Training...
The Court of Tax Appeals (CTA) has denied the P55-million tax refund sought from the Bureau of Internal Revenue (BIR) by a firm engaged in call center services. In a 20-page decision promulgated last Dec. 11 and penned by Presiding Justice Roman G. Del Rosario, the CTA's first division denied...
ILOILO CITY – This city has extended the 40 percent property real tax discount until 2026 amid a 300 percent increase in real property tax here. “Taxes remain the lifeblood of government operations. While this adjustment aims to ease the financial burden on taxpayers, we appeal to everyone to...
Photo from Pixabay The Food and Drug Administration (FDA) has issued an advisory announcing the inclusion of additional medicines for cancer, diabetes, and mental health in its list of products exempt from value-added tax (VAT). In its advisory released on Monday, Nov. 25, the FDA explained the new...
The Court of Tax Appeals (CTA) has acquitted five executives of a cigarette manufacturing company which was raided in 2020 in Angeles City in Pampanga where P14.08 million worth of tobacco products were seized. Acquitted were GB Bem Cigarette Co., Inc. president Gregory G. Lim, treasurer Benson G....
The Court of Tax Appeals (CTA) has dismissed the petition for P6 million tax refund sought by a firm that recruits qualified Filipino seafarers for employment by foreign shipping companies. Dismissed was the petition filed by BW Shipping Philippines, Inc. against the Bureau of Internal Revenue...
