Here's some good news to start the year 2023. (MANILA BULLETIN) Albay 2nd district Rep. Joey Salceda reminded Filipinos on Saturday, Dec. 31 that half a month's worth of salary awaits them as part of the windfall from the Tax Reform for Acceleration and Inclusion or TRAIN Law. “A 13.5th month...
Senator Sonny Angara said the middle class will experience some relief next year through income tax deduction. “Yes. Next year there would be tax relief. Under the TRAIN law, there would be another income tax reduction,” Angara said during an interview at the sidelines of the 20th...
The progressive party-list group Bayan Muna has pushed the Supreme Court (SC) to act swiftly on the petition seeking to cancel the certificate of candidacy (COC) of presumptive president Ferdinand “Bongbong” Marcos Jr. Bayan Muna Party-list Rep. Carlos Zarate (Photo from Bayan Muna) “There is...
The Bureau of Internal Revenue (BIR) has extended up to April 18 the deadline for the filing of 2021 income tax return (ITR). BIR Commissioner Caesar Dulay (Photo courtesy of BIR Facebook page) BIR Commissioner Caesar R. Dulay moved the original April 15 deadline as it is a holiday, Good Friday....
Personal income tax (PIT), which is withheld from an employee's salary and paid to the government, remained a major revenue stream for the government despite the lowering of rates on individual taxpayers and the pandemic-induced economic slowdown. Data released from the Department of Finance (DOF)...
A group of Filipino tax experts has urged the public to faithfully comply with their tax filing obligations, saying non-compliance is now a punishable offense under existing regulations. In a statement, the Tax Management Association of the Philippines (TMAP), said on Saturday, Feb. 12, the...
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 House Special Committee on Senior Citizens on Tuesday, Sept. 21, approved in principle a bill that would grant senior citizens an exemption from income taxes. (Mark Balmores/MANILA BULLETIN File Photo) House Bill No. 8832, filed by Senior Citizens' Party List Representative Rodolfo Ordanes,...
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...
Earnings from online play-to-earn games, such as Axie Infinity, are taxable, the Department of Finance (DOF) said. Axie Infinity Amid a rapid rise in popularity of online multiplayer video games that also allow players to generate profits, Finance Undersecretary Antonette C. Tiono said that...
The Fiscal Incentives Review Board (FIRB) has approved the grant of tax incentives for a mass housing project and two cement manufacturing plants all located outside Metro Manila. Chaired by Finance Secretary Carlos G. Dominguez III, the FIRB during its third meeting last August 2 approved the tax...
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...
