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THE Court of Tax Appeals (CTA) upheld its ruling granting P56.8-million excise tax refund to Pilipinas Shell Petroleum Corp.
THE local government of Quezon City is giving an amnesty to delinquent property owners until end-March 2021.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
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 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 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.
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.
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.
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,...
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.
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.
THE HOUSE ways and means committee on Tuesday, Sept. 4, approved the substitute bill granting an amnesty on estate taxes, general unpaid taxes, and...
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...
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.
THE DEPARTMENT of Finance (DoF) touted the effectiveness of lower personal income tax (PIT) rates under the Tax Reform and Acceleration and Inclusion (TRAIN)...