Many relatives of coronavirus (COVID-19) victims who died from the disease are asking Congress to pass a legislation that would exempt them from paying estate tax, or at the very least lower the rate. (Photo by Jarl Schmidt / Unsplash) They said it will be another financial hardship if they will...
Senator Sherwin Gatchalian proposed on Saturday, May 8, deductions to taxes imposed on workers who have been telecommuting to make up for their expenses for working at home. Senator Sherwin Gatchalian (Senate of the Philippines/MANILA BULLETIN File Photo) Gatchalian issued the call as he cited the...
A ray of hope shone through the thick fog of anxiety over the latest COVID upsurge: the signing into law by President Duterte of Republic Act 11534, the Corporate Recovery and Tax Incentives for Enterprises Act (CREATE). It is regarded as a “historic economic reform” that is “one of the...
Despite the dominance of coal plants in the country’s energy mix, Energy Secretary Alfonso G. Cusi forthrightly stated that the Philippines is not ready for ‘carbon tax enforcement’ because such policy could worsen the travails of consumers on high cost of power that they are already...
Top tier incentives, primarily a six-year income tax holiday (ITH), is being sought for energy efficiency projects especially those that shall be undertaken by energy service companies (ESCOs). That has been the call put forward by the Philippine Energy Efficiency Alliance (PE2) in its meeting with...
Tax collections from tobacco products increased by nearly three-fourths as of mid-February this year after one cigarette manufacturer commenced the operation of its new facility in Batangas, the Bureau of Internal Revenue (BIR) said. In a statement, BIR Deputy Commissioner Arnel Guballa reported to...
The Bureau of Internal Revenue (BIR), the government’s main tax collection agency, has laid down its programs for the year to raise its collection performance to support its goal for a 7.23 percent increase in tax collection this year. In a statement, BIR Commissioner Caesar R. Dulay said the...
Officials of the Bureau of Internal Revenue (BIR) and the Federal Tax Service (FTS) of Russia have met recently to discuss the latter’s best practices that could be applied in the Philippines to further improve its tax administration and compliance. On orders of Finance...
Transmission firm National Grid Corporation of the Philippines (NGCP) is seeking lawmakers’ imprimatur for it to be allowed to import Covid-19 vaccine tax-free as these doses will be used for its employees. NGCP President Anthony L. Almeda said with this gesture from the State, businesses would...
The Department of Finance (DOF) urged local chief executives to rally behind its proposed legislative measures to help the country recover from the pandemic-induced economic crisis. Finance Secretary Carlos G. Dominguez III (Bloomberg file photo) During the webinar hosted by the Bureau of...
EDITOR’S NOTE: This is an article from Charlie A. V. Gorayeb, national chairman of CREBA (Chamber of Real Estate & Builders’ Associations, Inc.) The Chamber of Real Estate & Builders’ Associations, Inc. (CREBA) has appealed anew for immediate government intervention against the...
The Philippines remains in a strong fiscal position to meet the financial challenges posed by the coronavirus pandemic and ride out the global economic crisis, the Department of Finance (DOF) said. Finance Secretary Carlos G. Dominguez III said the government has the financial muscles to reboot the...
