The extension of the amnesty for unpaid real estate taxes for another two years will benefit both the government and the families that are recovering from the economic impacts of the COVID-19 pandemic, Senator Juan Edgardo "Sonny" Angara said on Saturday, May 29. Senator Juan Edgardo 'Sonny' Angara...
The Bureau of Internal Revenue (BIR) has filed tax evasion cases against 12 corporations and six store owners based in Metro Manila for alleged refusal to pay tax debts totalling to more than P410 million. (Photo from BIR Facebook page) Revenue Deputy Commissioner for Legal Marissa O. Cabreros said...
The Bureau of Internal Revenue (BIR) said the reduction of the percentage rate from three to one percent under the Corporate Recovery and Tax Incentives (CREATE) Act applies to both corporate and individual taxpayers. BIR Commissioner Caesar R. Dulay (Photo from BIR) It noted, however, that...
The Senate is set to start plenary debates on the bill seeking to establish the tax regime for Philippine offshore gaming operators (POGOs). Senate Ways and Means Committee chairperson Senator Pia Cayetano sponsors the bill seeking to establish a tax regime for POGOs. (Courtesy of the Office of...
The Senate has approved on third and final reading the measure seeking to extend the estate tax amnesty for another two years. With 23 affirmative votes, the Senate approved Senate Bill No. 2208 which seeks to amend Republic Act No. 11213 or the Tax Amnesty Act, which is set to expire on June 15,...
The Court of Tax Appeals (CTA) has dismissed a tax evasion case filed against two Manila business executives who allegedly refusal to settle income tax debts amounting to more than P184 million over a decade ago. (Photo from BIR Facebook page) Cleared of the criminal charges were Arturo Zapata and...
The Bureau of Internal Revenue (BIR) has filed separate tax evasion cases against four Manila corporate taxpayers and four other business proprietors for alleged refusal to settle tax debts amounting to more than P291 million. (Photo from BIR Facebook page) Citing separate criminal complaints...
The Department of Finance (DOF) said the government should continue adapting fiscal reforms as tax collections begin to recover in the first three months of the year following the unprecedented spending last year due to the pandemic. Based on the latest DOF economic bulletin, Finance Undersecretary...
Albay 2nd District Representative Joey Sarte Salceda on Saturday, May 15, said the House ways and means committee would focus on three key areas when the 18th Congress resumes regular session on Monday, May 17. House of Representatives (MANILA BULLETIN File photo/Alvin Kasiban) These are the...
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...
