The Court of Tax Appeals (CTA) has erased the P179.9 million tax liabilities of a businessman from Isabela for the failure of the Bureau of Internal Revenue (BIR to give him a chance to answer the tax assessments. The court's First Division said the assessments issued to Joselito B. Yap, owner of...
The attempt of the Bureau of Internal Revenue (BIR) to register online sellers of goods and services that are based inside condominium buildings and exclusive subdivisions in Metro Manila hit a snag after its personnel were barred from entering the areas. "For security reason, guards do not allow...
The Fiscal Incentives Review Board (FIRB), chaired by the Department of Finance, has approved the tax incentive application of TDK Philippines Corp. (TPC). In a statement Tuesday, Dec. 6, Finance Assistant Secretary Juvy Danofrata said the FIRB approved the fiscal incentives for TPC’s P2.5...
The House tax panel approved on Monday, Dec. 5, the tax provisions of the proposed House Bill (HB) No. 6398, or the Maharlika Investment Fund Act, which will ensure that tax benefits go to the investment fund rather than line the pockets of executives and other officials. Albay 2nd district Rep....
Filipino freelance workers may soon enjoy tax relief and special assistance lanes at the Bureau of Internal Revenue (BIR) if a proposed bill recently passed by the House Committee on Ways and Means becomes law. (Photo from theremotehive.com) Albay 2nd District Rep. Joey Salceda, also the chair of...
The Court of Tax Appeals (CTA) said Friday, Dec. 2, that it has turned down the petition of the Bureau of Customs (BOC) to deny the multi-million peso duties and tax refund petition of Toyota Motor Philippines for the importation of selected vehicles from Japan. Court of Tax Appeals The court en...
The Bureau of Internal Revenue (BIR), the government’s main tax agency, announced that it exceeded its collection target in October this year, but still behind its 10-month goal. On Thursday, Dec. 1, the BIR reported that it generated P186.76 billion in October, higher by 1.5 percent or P2.23...
Albay 2nd district Rep. Joey Salceda has practically guaranteed the approval of the tax provisions of House Bill (HB) No.6398 or the proposed Maharlika Investment Fund (MIF), also known as the Maharlika Wealth Fund (MWF). Albay 2nd district Rep. Joey Salceda Salceda chairs the House Committee on...
The European Chamber of Commerce of the Philippines (ECCP), composed of foreign business chambers representing EU and European firms’ interest in the country, has urged the government that the planned zero tariff on the importation of electric vehicles (EVs) should cover all other types of EVs,...
The Court of Tax Appeals (CTA) has rejected the petition of a popular online seller of goods to nullify the P21.8 million deficiency business tax imposed by the Makati City government. Instead, the court's Special Third Division reduced the tax liabilities of Lazada E-Services Philippines, Inc. to...
The House Committee on Ways and Means began on Monday, Nov. 28 the initial deliberations on measures seeking to amend Republic Act (RA) No.10863 or the Customs Modernization and Tariff Act (CMTA). (Ellson Quismorio/ MANILA BULLETIN) Raised and discussed by the Albay 2nd district Rep.Joey...
The Department of Finance (DOF) lauded the decision of the House of Representatives to approve on final reading a proposed measure seeking to impose taxes on single-use plastics. In a statement, Finance Secretary Benjamin E. Diokno said the swift approval of House Bill (HB) 4102 or the Single-use...
