Government Taxes

Government employees under contract subject to VAT, 3% tax rate–BIR

Published by rudy Date posted on December 11, 2016

By David Cagahastian, December 11, 2016, Businessmirror THE Bureau of Internal Revenue (BIR) has clarified the tax treatment of salaries paid by the government to its personnel who are engaged under a contract of service or job-order arrangement. Internal Revenue Commissioner Caesar R. Dulay issued Revenue Memorandum Circular 130-2016, citing a common issue, “which arise…

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Bullish on growth

Published by rudy Date posted on December 2, 2012

CONSUMPTION and infrastructure spending can sustain the country’s stellar growth well into next year, economic managers claimed. Given the momentum from three straight quarters, and with the July to September period particularly surpassing expectations, Budget Secretary Florencio B. Abad said the outlook for the rest of the year was bright and would extend to 2013.

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Strong growth seen boosting gov’t revenues

Published by rudy Date posted on November 30, 2012

Better-than-expected third-quarter economic growth will likely boost revenue collections for the last three months of the year but base effects may dampen primary spending growth, the research arm of Citigroup Global Markets, Inc. said.

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Rewriting the changes in the sin taxes

Published by rudy Date posted on October 23, 2012

IF I WERE to rewrite the changes in the taxes on cigarettes and liquor, I would do the following: simplify the law; impose equal if not higher taxes on liquor and distilled spirits than on cigarettes; and reduce the deadweight loss (the loss in efficiency associated with any tax except lump sum tax). I would…

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BIR eyes 20% hike in income tax take

Published by rudy Date posted on September 5, 2011

MANILA, Philippines – The Bureau of Internal Revenue (BIR) is eyeing to raise its individual income tax collection this year by roughly 20 percent as it intensifies its crackdown on professionals.

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BIR to conduct lifestyle checks on professionals

Published by rudy Date posted on August 1, 2011

MANILA, Philippines – The Bureau of Internal Revenue (BIR) is set to conduct lifestyle checks on professionals – including doctors, lawyers and accountants – in a move to convince self-employed people to pay their proper taxes to the government.

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NSCB says EVAT subsidy can reduce poor senior citizens

Published by rudy Date posted on July 13, 2011

A CASH subsidy from the collection of the expanded value-added tax (EVAT) could sharply reduce the number of poor senior citizens in the country, according to the National Statistical Coordination Board (NSCB).

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Government to go after pros, self-employed

Published by rudy Date posted on July 13, 2011

MANILA, Philippines – The Aquino administration will step up efforts to go after professionals and self-employed individuals as part of efforts to improve revenue-to-gross domestic product (GDP) ratio by four percent, Finance Secretary Cesar Purisima said yesterday.

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ADB recommends modernization for tax administration

Published by rudy Date posted on July 12, 2011

THE PHILIPPINES along with its Asian neighbors should address tax evasion to increase revenue collection, the Asian Development Bank (ADB) said as part of its recommendations to reform tax administration.

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BIR to tighten rules on pros, self-employed

Published by rudy Date posted on July 10, 2011

MANILA, Philippines – The Bureau of Internal Revenue (BIR) will tighten its rules on professionals and self-employed individuals to boost tax collections by P140 billion a year, Commissioner Kim Henares said over the weekend. She said the agency hopes to improve revenue collections from this group of earners, noting that professionals and self-employed individuals earn…

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Philippines needs new taxes, wider tax base – S&P

Published by rudy Date posted on June 27, 2011

MANILA, Philippines – The Philippines needs to expand its tax base and increase tax rates to significantly boost revenues and cut debt levels if it wants to win an investment-grade sovereign rating, Standard & Poor’s Ratings Services said on Friday.

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Philippines needs new taxes, wider tax base – S&P

Published by rudy Date posted on June 25, 2011

MANILA, Philippines – The Philippines needs to expand its tax base and increase tax rates to significantly boost revenues and cut debt levels if it wants to win an investment-grade sovereign rating, Standard & Poor’s Ratings Services said on Friday.

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No new tax measures seen in 2012

Published by rudy Date posted on June 22, 2011

Gov’t expects lower budget gap of P286B next year NO NEW TAXES. The Aquino administration will propose no new tax measures next year but is still confident that it can lessen the budget deficit. Malacañang will not push for new tax measures in 2012 despite increasing the national budget next year to P1.8 trillion. An…

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Lifestyle check on self-employed set

Published by rudy Date posted on June 15, 2011

THE Aquino administration plans to conduct lifestyle checks on doctors, lawyers and other self-employed individuals to ensure they pay their taxes.

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New taxes by 2013, Noy tells US group

Published by rudy Date posted on June 14, 2011

It seems that the Aquino administration is giving Filipinos promises it does not intend to keep as it indicated to a foreign group it will adopt new tax measures by 2013 against its vow not to impose new taxes and instead seek reforms in tax collections to increase revenues.

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House wants excise tax on fuel suspended

Published by rudy Date posted on April 26, 2011

Amid the unabated rise in the process of oil and other petroleum products, legislators yesterday urged Malacañang to look into the possibility of reducing the P4.35 per liter excise tax on gasoline as a way of cushioning the effects of the soaring gasoline prices used by tricycles, taxi cabs, farm equipment and fishing boats.

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Purisima tells BIR to go after ‘The Invisible 500’

Published by rudy Date posted on March 31, 2011

FINANCE Secretary Cesar Purisima on Tuesday asked Internal Revenue to go after “The Invisible 500,” rich people who live in the most exclusive subdivisions and are members of golf and yacht clubs.

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PCCI blasts House measures amending income tax scheme

Published by rudy Date posted on March 23, 2011

A business group said yesterday two House bills seeking to rationalize the income tax system have provisions that are biased against individual businessmen or professionals.

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PCCI calls for fairer tax on businessmen

Published by rudy Date posted on March 23, 2011

MANILA, Philippines – The Philippine Chamber of Commerce and Industry (PCCI), the largest business organization in the country, has expressed concern over the differences in the treatment of taxes for corporate entities and sole proprietors in Congress.

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House body approves measure simplifying income tax scheme

Published by rudy Date posted on March 19, 2011

MANILA, Philippines – The House committee on ways and means has approved a bill simplifying the net income taxation scheme (SNITS) that will limit the allowable business deductions from gross revenues for self-employed individuals and professionals to reduce corruption and increase government revenues.

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BIR to exempt certain benefits from Income Tax

Published by rudy Date posted on March 17, 2011

MANILA, Bulletin – The Bureau of Internal Revenue (BIR) came out yesterday with regulations exempting from income tax certain financial benefits received by employees from their employers.

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BIR to withdraw regulation on SALN for private taxpayers

Published by rudy Date posted on March 16, 2011

MANILA, Philippines –  The Bureau of Internal Revenue (BIR) would withdraw its controversial regulation requiring private taxpayers to file the equivalent of a statement of assets, liabilities and net worth (SALN) mandatory for government officials.

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BIR’s AIR imposition mandatory by next year

Published by rudy Date posted on March 10, 2011

The Bureau of Internal Revenue (BIR) has moved to next year the mandatory filing of a new requirement called Annual Information Return (AIR) that would list all income that should be subject to withholding tax of an individual earning at least P38,000 a month and which would accompany annual income tax returns (ITR).

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BIR to allow optional filing of AIR for 2010 taxable year

Published by rudy Date posted on March 10, 2011

MANILA, Philippines – The Bureau of Internal Revenue (BIR) will allow the optional filing of the annual information return (AIR) for the 2010 taxable year, BIR Commissioner Kim Henares said.

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SALN filing for private citizens unconstitutional – lawmaker

Published by rudy Date posted on March 10, 2011

MANILA, Philippines –  Cagayan de Oro City Rep. Rufus Rodriguez claimed yesterday that the new requirement of the Bureau of Internal Revenue (BIR) for high-income private taxpayers to file the equivalent of a statement of assets, liabilities and net worth (SALN) is unconstitutional.

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Admin reiterates stand vs new taxes

Published by rudy Date posted on February 15, 2011

MANILA, Philippines – The Aquino administration reiterated that it has no plans to push new tax measures despite pressures from economists as the governmment intends to focus on further improving its collection efficiency.

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Govt to lose P16 billion in revenues in 2011

Published by rudy Date posted on January 4, 2011

THE Aquino administration is bracing itself for revenue-eroding measures that are set to take effect this year.

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DOF prefers expansion of senior citizens’ discount over VAT exemption

Published by rudy Date posted on January 3, 2011

MANILA, Philippines – The Department of Finance (DOF) prefers an expansion of the discount on senior citizens’ purchase of medicines over an expanded value-added tax (VAT) exemption.

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BIR error places two as top payers

Published by rudy Date posted on December 18, 2010

A ROUNDING-off error propelled two ordinary working Filipinos to the top of the taxpayers’ list last year, and way past the country’s richest tycoons who are worth billions.

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Finance rejects House plan for new 6% ‘cascading’ tax

Published by rudy Date posted on December 13, 2010

A HOUSE bill seeking to replace the 12-percent value-added tax with a 6-percent value simplified tax will make the country’s exports less competitive, increase local prices, and make it more difficult to raise government revenue, a Finance Department official said over the weekend.

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