The Court of Tax Appeals (CTA) has denied the petition of Air Drilling Associates Pte. Ltd. which sought a tax refund of P951,459.67 for its zero-rated sales for the fourth quarter of 2018. Air Drilling is a foreign company from Singapore engaged in aerated drilling services. It was licensed to...
The Court of Tax Appeals (CTA) has denied the petition of Bohol Light Company, Inc. (BLCI) to reverse a regional trial court (RTC) ruling that the firm has "no clear and categorical exemption from other local taxes." Assailed by the BLCI was the March 31, 2016 decision issued by the Tagbilaran...
Up to now, Japanese investors mostly in the Philippines' manufacturing sector are still awaiting the refund of value-added tax (VAT) credits totaling P200 billion from the government, a chamber official said. Moving forward, Japanese firms in the country are "fully" supporting the passage of the...
The work-from-home (WFH) model is on track to become a permanent component of the Philippine business landscape as the CREATE MORE bill—officially known as the Corporate Recovery and Tax Incentives for Enterprises to Maximize Opportunities for Reinvigorating the Economy—nears its final...
The Court of Tax Appeals (CTA) has denied the petition of Deutsche Knowledge Services Pte., Ltd. which sought an additional refund or tax credit for P8.2 million for the second quarter of taxable year 2019. Deutsche Knowledge is the Philippine branch of a multinational company organized and...
CEBU CITY – The provincial government of Bohol has recommended the creation of a task force to further improve its revenue collection effort. BOHOL Gov. Aris Aumentado (center) and Provincial Administrator Aster Caberte (left) meet officials of the Bureau of Internal Revenue (BIR)-Bohol to...
Bicol Saro Party-list Rep. Brian Yamsuan (Facebook) Bicol Saro Party-list Rep. Brian Raymund Yamsuan has called on his colleagues in Congress to swiftly approve the measure seeking to mandate local government units (LGUs) to allot a portion of their...
The Department of Finance (DOF) announced that the government's two main tax agencies have already achieved over half of their full-year collection target in just the first seven months of the year, primarily fueled by digitalization efforts. Tax revenues from the Bureau of Internal Revenue (BIR)...
The Court of Tax Appeals (CTA) has denied the petition of five cement trading companies against the safeguard duties imposed by the government in 2019 on cement importations. In 2018, the Department of Trade (DTI) conducted a probe on the increased importations of cement. The investigation...
From left to right: Tingog Party-list Rep. Yedda Marie Romualdez, House Speaker Martin Romualdez, Olympic gymnast Carlos Yulo. (Speaker’s office) The House of Representatives approved on second reading on Wednesday, Aug. 14 the bill that sought tax...
Department of Finance (DOF) Secretary Ralph G. Recto said the government will work on collecting tax revenues to match the economic growth relative to the country's gross domestic product (GDP). During a Senate committee hearing, Recto said that the two main tax agencies should work hard to boost...
For lack of jurisdiction, the Court of Tax Appeals (CTA) has dismissed the petition filed by Manulife Data Services, Inc. which sought from the Bureau of Internal Revenue (BIR) P127.4 million tax refund for its alleged excess and unutilized value added tax (VAT) in 2019. Manulife filed its...
