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Tax appeals court upholds refund of P56.8 million to Pilipinas Shell

THE Court of Tax Appeals (CTA) upheld its ruling granting P56.8-million excise tax refund to Pilipinas Shell Petroleum Corp.

QC extends relief for real property, business taxpayers

THE local government of Quezon City is giving an amnesty to delinquent property owners until end-March 2021. 

Court denies JG Summit move on tax liabilities

THE Court of Tax Appeals (CTA) denied for lack of merit the motion for reconsideration of JG Summit Holdings, Inc. over the denial of its alleged tax liabilities of P1.3 billion for 2009.

Tax amnesty deadline extended to end-June

TAXPAYERS will have until June next year to apply for the tax amnesty program on delinquencies and the Voluntary Assessment and Payment Program (VAPP).

BIR collects P582M in back taxes from firms shut down temporarily

THE Bureau of Internal Revenue (BIR) said it collected P582.5 million in the 11 months to November worth of taxes and fees owed by establishments it ordered temporarily closed.

BIR says 86% of taxes collected via online channels

SOME 86% of tax payments were made online after the Bureau of Internal Revenue’s (BIR) on-site operations were hampered by the quarantine, the Department of Finance (DoF) said.

‘Sin’ tax collection exceeds revised target in October

TAXES COLLECTED from so-called “sin” products in October surpassed the target for the month, due to a pick up in sales of tobacco and alcoholic drinks, data from the Department of Finance (DoF) showed.

Gov’t think tank backs extension of tax amnesty

AN EXTENSION of the ongoing tax amnesty program will raise more revenue and provide relief to taxpayers, according to a study by the National Tax Research Center (NTRC).

BIR collects P548M from firms shut down for tax violations

THE Bureau of Internal Revenue (BIR) said it collected P548 million in the nine months to September from establishments temporarily closed down for failing to register or pay taxes in arrears, the Department of Finance (DoF) said in a statement Wednesday.

Gov’t told to expand digital tax foothold

THE government should look at digital payment systems that can cover cross-border transactions to widen its digital tax base, according to the National Tax Research Center (NTRC).

Vietnam rebukes Netflix, Apple, over lack of tax payments

HANOI — Vietnam’s information minister on Tuesday accused foreign streaming companies like Netflix and Apple of skirting their tax responsibilities, saying it would create unfair competition for domestic firms.

Gov’t extends deadline to pay taxes owed to LGUs to Dec....

THE deadline to pay taxes, fees and charges to local government units (LGUs) has been extended again to Dec. 19 to provide some relief from the pandemic.

New tax measures before 2022 elections unlikely

THE passage of any new tax measures in the Duterte administration’s last year in office is unlikely, according to key lawmakers, even as the Finance chief said new sources of revenues are needed to pay off the debt incurred during the pandemic.

DoF cool to extending estate tax amnesty

THE Finance department wants to first see the results of the ongoing estate tax amnesty, which will end on May 31 next year, before Congress passes a measure extending it by another two years.

BIR extends deadlines for related party transactions

THE Bureau of Internal Revenue (BIR) said it extended the deadlines for filing the new related party transactions (RPT) form, acknowledging possible difficulties in compiling the needed information due to the coronavirus disease 2019 (COVID-19) pandemic.

House OK’s on 3rd reading bill extending estate tax amnesty

THE House of Representatives passed on third reading a bill amending Republic Act No. 11213, or the Tax Amnesty Act, extending the estate tax amnesty by two years from its original deadline of June 15, 2021, to give filers more opportunities to seek amnesty after the disruption caused by the pandemic.

Economist wants to tie tax cuts to solar investment

THE PROPOSED five percentage point reduction in corporate income tax should be conditional on major firms investing the savings on job-generating projects like green energy, economist and National Scientist Raul V. Fabella said.

House panel extends estate tax amnesty by two years

THE House Ways and Means Committee approved on Monday a measure extending the estate tax amnesty program by another two years, in light of the ongoing coronavirus pandemic.

Domestic PPE industry seeking tax incentives

CLOTHING manufacturers that have repurposed their facilities to produce personal protective equipment (PPE) for the domestic market are asking the government for tax breaks, and lobbied to have such taxes applied to importers.

Energy efficiency industry claims eligibility for 6-year tax holiday

THE energy efficiency industry said energy-saving projects should qualify for a six-year income tax holiday based on its interpretation of the Omnibus Investments Code.

BIR sees big drop in cigarette tax stamps

THE Bureau of Internal Revenue (BIR) saw a decline in the issuance of cigarette tax stamps during one of the world’s longest and strictest lockdowns to curb the spread of the coronavirus disease 2019 (COVID-19).

Digital tax bill hurdles House panel

THE House Ways and Means Committee on Wednesday approved a measure that would impose a 12% value-added tax (VAT) on digital services, particularly those offered by foreign technology companies such as Facebook, Netflix, Inc., Alibaba’s Lazada and Alphabet’s Google.

PHL signs convention on tax-exempt trade show goods

THE Philippines has signed on to an international system that will allow temporary and tax-free imports of goods for use in trade shows and exhibitions.

G20 finance officials eye solution to digital tax row this year

WASHINGTON/BERLIN — Finance officials from the Group of 20 (G20) major economies on Saturday vowed to resolve major differences over taxing big tech companies and reach a broad, consensus-based solution on international taxation this year.

‘Sin’ tax collections bounce back in June

THE government’s tax take from alcohol and tobacco products bounced back in June after two months of contraction, as restrictions eased around the country.

P2.5B collected so far from tax amnesty — BIR

THE ongoing tax amnesty program has yielded more than P2.5 billion in collections so far, according to the Bureau of Internal Revenue (BIR), which expects more taxpayers to avail themselves of the program after the cut-off date was extended to end-2020.

Business groups, exporters want corporate income tax cut to 20% by...

BUSINESS GROUPS and exporters are asking Congress to consider a longer transition period from the current tax incentives system and to accelerate the corporate income tax cut, in an effort to restore fiscal certainty to investors amid the pandemic.

Taxing digital economy could raise up to P17 billion in VAT...

TAXING the digital economy could yield up to P17 billion in fresh value-added tax (VAT) revenue in the first year of implementation, the Department of Finance (DoF) said.

BIR extends other tax deadlines

THE BUREAU of Internal Revenue (BIR) has also extended deadlines of other tax returns for 30 days due to the Luzon-wide lockdown.

No need to suspend excise tax on fuel despite US-Iran tensions

THE HOUSE Committee on Ways and Means “sees no need” to suspend the fuel excise taxes under the Tax Reform for Acceleration and Inclusion (TRAIN) Law despite the ongoing tensions between the United States and Iran, according to its chairman.

Road user tax bill seen raising additional P8.12-B in first year

A MEASURE gradually increasing the road users’ tax filed in the House of Representatives is expected to generate P8.12 billion worth of revenue in the first year of implementation, a key legislator said.

House approves CITIRA on final reading

THE HOUSE of Representatives on Friday approved on third and final reading the second package of the government’s tax reform program, fast-tracking the administration’s plans to lower income taxes and slash the incentives of businesses.

Reyes Tacandong & Co. (RT&Co.): Trailblazing a path toward digital transformation

By Bjorn Biel M. Beltran, Special Features Writer Technology has already made itself integral to modern business. From fields of health care, to automobiles, to agriculture,...

BIR reminds candidates of tax obligations

THE BUREAU of Internal Revenue (BIR) outlined the tax duties of candidates for the midterm elections, which covers their campaign expenses and contributions.

Important customs rules

Be it a bunch of pasalubong from a trip abroad or a package for delivery to a customer overseas, the Bureau of Customs (BoC)...

QC Council extends deadline of business taxes payment

THE Quezon City Council has passed on third and final reading an ordinance extending the deadline for payment of business taxes in the city to Feb. 3.

Tax think tank calls for harmonized rules on financial instruments

THE NATIONAL TAX Research Center (NTRC) said failure to harmonize regulation of financial instruments has led to arbitrage to take advantage of favorable tax regimes, resulting in foregone revenue for the government.

Gov’t ready to roll out TRAIN safety net benefits

THE GOVERNMENT has completed the implementation guidelines for P83.85 billion worth of social protection programs in 2019 to cushion the impact of the Tax Reform For Acceleration and Inclusion (TRAIN) law.

Tax reforms gain ground in House

TWO TAX REFORMS — one that cuts the corporate income tax rate and removes redundant fiscal incentives, and another that provides for a general amnesty — were approved at different levels in the House of Representatives on Tuesday.

House committee approves substitute bill on tax amnesty

THE HOUSE ways and means committee on Tuesday, Sept. 4, approved the substitute bill granting an amnesty on estate taxes, general unpaid taxes, and...

Auto sales decline further in July

Automobile sales further declined in July, according to the latest report by auto and truck manufacturers. In the joint report by the Chamber of Automotive...

BIR files tax evasion raps vs Caloocan business owners

The Bureau of Internal Revenue filed tax evasion charges before the Department of Justice against four individuals for failure to pay taxes. Slapped with charges...

Investors concerned about gov’t delivering on lower taxes — Habito

TAX incentives are only one issue considered by potential investors, and the Philippine market may have other disadvantages that need to be addressed urgently, like high taxes or corruption, a former socioeconomic planning secretary said.

Finance dep’t cites tax reform gains as retail firms report higher...

THE DEPARTMENT of Finance (DoF) touted the effectiveness of lower personal income tax (PIT) rates under the Tax Reform and Acceleration and Inclusion (TRAIN)...

Coca-Cola open to refranchising PHL operations

ATLANTA-BASED The Coca-Cola Co. said it is open to potential partners for its bottling operations in the Philippines, after Mexico’s Coca-Cola FEMSA S.A.B de C.V. exited the local market.