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Dominguez cites rise in spending power due to TRAIN

INCREASED profitability of premier companies in the country best illustrates the “success” of the implementation of the first tax reform package, the Department of Finance said in a statement on Friday.

DENR, MICC push for lifting of MPSA applications

THE Department of Environment and Natural Resources (DENR) and the Mining Industry Coordinating Council (MICC) are lobbying for the lifting of the moratorium on applications for mineral production sharing agreement (MPSA), which can only be possible with a new fiscal regime, according to an official.

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.

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...

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)...

Credit raters caution against watering down tax reforms

THE CURRENT FORM of the second tax reform package, as approved by a House of Representatives committee earlier this month, risks slowing momentum of progress in state revenues and infrastructure spending, senior executives of Fitch Ratings and Moody’s Investors Service warned.

Meralco seeks rate hike amid higher excise tax on coal

Manila Electric Co. (Meralco) is asking the Energy Regulatory Commission (ERC) for provisional authority to adjust the price of electricity in its power supply...

Tax amnesty package stalls in committee on LGU worries

COMMITTEE approval for Package 1B of the Tax Reform for Acceleration and Inclusion (TRAIN) law has stalled over questions about who controls the proceeds when amnesties are declared on local taxes.

LGUs raise issue on local business tax amnesty provision

The House Committee on Ways and Means is closer to approving the substitute bill of Package 1B of the Tax Reform for Acceleration and...

Lights out for Indonesia’s LRT just days before Asian Games

Jakarta, Indonesia -- Indonesia is investigating a series of malfunctions that have plagued its first light rapid transit (LRT) system just days out from...

Second tax reform package up for plenary debate

THE HOUSE ways and means committee approved the Department of Finance's (DoF) second tax reform package on Tuesday, Aug. 7. The unnumbered substitute bill, now...

July inflation seen at 5.6%

Inflation likely surged to 5.6% in July led by higher electricity rates and rice prices plus a new wave of excise taxes on cigarettes,...

Lawyer files petition seeking to suspend TRAIN

By Gillian M. Cortez A NEW PETITION for a temporary restraining order (TRO) to halt the implementation of Tax Reform for Acceleration and Inclusion (TRAIN)...

Senate panel to monitor social measures in TRAIN

THE Senate committee on public services will resume its regional inquiry on Wednesday, July 18, into the effects of the tax reform law on public services and utilities in Cagayan De Oro City, Misamis Oriental.

Toward a stronger economy

The current administration inherited a robust economy from its predecessor. And exactly two years after President Rodrigo R. Duterte assumed the office, the economy...

Senate panel to continue regional hearings on effects of TRAIN

THE Senate will hold another regional hearing in Mindanao next month to check whether the social mitigating measures under the tax reform law are being implemented by the government as promised, Senator Grace S. Poe-Llamanzares said on Friday.

Estate tax under TRAIN

Since Republic Act No. 10963, otherwise known as the Tax Reform for Acceleration and Inclusion (TRAIN), became operative at the start of this year,...

DBM’s Diokno says not yet time to lower value-added tax rates

THE GOVERNMENT will let the comprehensive tax reform proposals run their course first before studying the possibility of a lower value-added tax (VAT) rate, the Budget secretary said.

Finance dep’t touts sustained fiscal performance as of May

THE GOVERNMENT’S “impressive” fiscal performance was sustained in May, the Finance chief said, adding that this showed successful implementation of Republic Act No. 10963 or the Tax Reform for Acceleration and Inclusion (TRAIN) law.

Q2 GDP growth likely on target — Budget chief

ECONOMIC growth likely picked up this quarter to fall within the 7-8% official full-year 2018 target, the Budget chief said on Tuesday, as the Philippine Statistics Authority (PSA) reported that factory output began those three months with its biggest improvement in eight years.

Lawmakers call for social mitigation on TRAIN

LAWMAKERS on Tuesday urged the government to fast-track implementation of social mitigation measures in the light of the Tax Reform for Acceleration and Inclusion (TRAIN) Law and rising inflation.

Duterte leaves the fate of tax reform law to Congress

President Rodrigo R. Duterte on Sunday, June 3, said he is leaving the fate the controversial Tax Reform for Acceleration and Inclusion (TRAIN) amidst...

Around half of establishments with productivity schemes in 2015 availed of...

OF THE 2,448 establishments that set up productivity schemes in 2015, around half availed themselves of tax incentives under the Productivity Incentives Act of 1990 (Republic Act 6971), according to the latest biennial Integrated Survey on Labor and Employment conducted by the Philippine Statistics Authority (PSA).

ECCP to keep urging government to retain fiscal incentives under TRAIN...

By Arjay L. Balinbin, Reporter The European Union (EU) business community in the Philippines on Tuesday, May 29, vowed that they will “continue to strongly...

House panel mulls local tax shield for firms in line with...

THE HOUSE committee on ways and means will look into how businesses in the Philippines can be shielded from dealing with varying tax schemes among local government units while still rationalizing fiscal incentives under the second package of the tax reform program.

DoF: Tax incentives remain under second tax reform package

By Arjay L. Balinbin, Reporter The Department of Finance (DoF) clarified on Monday, May 28, that it is not the administration’s “thrust” to remove all...

Can consumers keep on availing of car loans amid TRAIN?

By Jochebed B. Gonzales, Senior Researcher BANKS HAVE BEEN lending out more readily to consumers, offering promos and flexible payment schemes to entice first-time buyers...

Senate panel recommends suspension of fuel excise tax

The Senate committee on public services has moved to recommend the suspension of excise taxes on fuel amid rising prices in the wage of...

DoE to call for fuel tax suspension when average oil prices...

The tax reform law has a mechanism that calls for the Energy department to prompt the suspension of another increase in taxes imposed on...

First-quarter tax collections hit fresh record high

The government's tax effort saw a substantial improvement relative to the Philippine economy in the first quarter, with collections hitting a fresh record high,...

House, Senate bills filed seeking to amend TRAIN

By Camille A. Aguinaldo and Charmaine A. Tadalan SENATOR PAOLO Benigno A. Aquino IV on Thursday filed a bill amending Republic Act No. 10963 or the...

Senator files bill aimed at automatically suspending fuel tax when inflation...

Senator Paolo Benigno A. Aquino IV on Thursday, May 10, filed a bill amending Republic Act No. 10963 or the Tax Reform for Acceleration...

BPOs remain bullish despite TRAIN 2 passage — Colliers

Business process outsourcing (BPO) firms remain bullish on expanding in the Philippines despite the removal of tax perks under the proposed second package of...

More taxes needed for gov’t reforms

By Melissa Luz T. Lopez Senior Reporter THE PHILIPPINES needs to collect more taxes to address the “urgent task” of traffic congestion and efficient public transport,...

OSG to SC: Dismiss anti-TRAIN petitions

THE OFFICE of the Solicitor-General (OSG) has petitioned the Supreme Court (SC) to dismiss for lack of merit the petitions seeking to nullify Republic...

Supreme Court urged to dismiss anti-TRAIN petitions

The Office of the Solicitor General (OSG) has urged the Supreme Court (SC) to dismiss for lack of merit the petitions seeking to nullify...

DBM chief sees Philippines bagging credit rating upgrade within the year

THE DEPARTMENT of Budget and Management (DBM) expects an improvement of the Philippines' sovereign credit rating this year, noting that it will be favorable...

Consumer group calls for regulation of price hikes after TRAIN

A consumer group has called on government to regulate the continuous increase in the prices of goods and services partly brought about by the...

Comparison-shopping site says interest in car loans stable despite TRAIN

Moneyguru Philippines Corp., the company that operates financial comparison website MoneyMax.ph, said interest in car loans remained steady after the implementation of the tax...

Excise tax take surges, beats target on increased rates

EXCISE TAX collections surged by nearly three-fourths in the first two months of the year, driven by bigger taxes on cars, tobacco, alcohol and...

Excise tax collections exceed January-February goal

EXCISE TAX collections rose 74.23% in the first two months of the year driven by "sin taxes" after higher levies were imposed this year,...

February vehicle sales decline on new excise tax regime

Automotive sales contracted in February, as the new tax regime that raised excise taxes on vehicles began to bite particularly the passenger car segment. Sales...

BMI sees investment slowdown as tax reform creates ‘uncertainty’

Investments could slow over the next few months amid uncertainties over corporate taxes, BMI Research said, noting that the second tax reform package being...

Tax concerns make businesses less bullish this quarter

BUSINESSES turned less optimistic about prospects as 2018 opened amid worries about the impact of the tax reform law particularly on fuel prices, according...

Risks ahead for financial markets in 2018

THE LAST THREE MONTHS of 2017 were, for the most part, a good quarter for local financial markets amid strong economic growth, stock market...