Taxes

https://www.benzinga.com/personal-finance/24/07/39817447/warren-buffett-says-anyone-who-works-40-hours-a-week-should-live-a-decent-life-heres-what-he-pro

Elijah Felice Rosales – The by Philippine Star, 4 Dec 2021 MANILA, Philippines — The Bureau of Internal Revenue (BIR) will start looking into the tax compliance of offshore gaming licensees (OGLs) and will begin closing down firms found violating the new regulations.

by Elijah Felice Rosales – The Philippine Star, 22 Nov 2021 MANILA, Philippines — The Department of Finance (DOF) said while it expects additional P57 billion revenue yearly from the imposition of wealth taxes, it warned that the legislation of such a measure could provoke capital flight and tax avoidance.

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by The Philippine Star, 30 Oct 2021 MANILA, Philippines — A broad coalition of 33 agricultural groups has urged President Duterte to issue an executive order (EO) suspending the excise tax on petroleum products for one year, citing the negative impact of the continued increase in oil prices on rice, corn and vegetable farmers, hog…

by Xave Gregorio – Philstar.com, 29 Oct 2021 MANILA, Philippines — House Deputy Speaker Rufus Rodriguez filed Thursday a bill seeking to suspend from 2022 to 2025 the imposition of excise taxes on fuel based on the Tax Reform for Acceleration and Inclusion (TRAIN) law.

by Elijah Felice Rosales – The Philippine Star, 11 Oct 2021 MANILA, Philippines — The Bureau of Internal Revenue (BIR) has registered nearly 2,300 online sellers and more than 100 social media influencers as part of its efforts to capture the digital economy.

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by Elijah Felice Rosales – The Philippine Star, 3 Oct 2021 MANILA, Philippines — Forgone revenue of the government may reach P480 billion until 2024 as a result of a decision to cut the corporate income tax (CIT) rates.

by Elijah Felice Rosales – The Philippine Star, 23 Sep 2021 MANILA, Philippines — The Department of Finance (DOF) said a proposal in Congress to slap a wealth tax of up to three percent should only cover fixed assets like buildings, land and vehicles

by Elijah Felice Rosales – The Philippine Star, 22 Sep 2021 MANILA, Philippines — The Department of Finance (DOF) has warned that the imposition of a wealth tax may force investments out of the country, even as multilateral lending institutions back such a measure to generate more revenue.

by Delon Porcalla – The Philippine Star, 22 Sep 2021 MANILA, Philippines — A committee of the House of Representatives approved yesterday a measure that will exempt working senior citizens from income tax payments being deducted by the Bureau of Internal Revenue from their monthly salaries.

by Lawrence Agcaoili – The Philippine Star, 15 Sep 2021 To boost revenue collections MANILA, Philippines — Expanding value-added tax (VAT) regimes to include imported digital services on digital transactions could help boost the Philippines’ revenue collections, according to the International Monetary Fund (IMF).

by Erika Jane F. Manguin – The Philippine Star, 7 Sep 2021 The Corporate Recovery and Tax Incentives for Enterprises (CREATE) Act is the latest installment of the government’s efforts to reform the Philippine tax system. Apart from codifying the updated incentives for qualifying enterprises (such as income tax holiday (ITH), special corporate income tax…

by Artemio Dumlao – The Philippine Star, 28 Aug 2021 MANILA, Philippines — The Bureau of Internal Revenue is being urged to hold a dialogue with influencers and other digital workers, such as Axie players, before imposing another tax burden.

By Ben O. de Vera, 30 Jul 2021 After receiving flak for an alleged erroneous interpretation of tax rules, the Bureau of Internal Revenue (BIR) has stopped the implementation of a regulation which would have jacked up the income taxes paid by private schools by 150 percent.

By Ben O. de Vera, 30 Jul 2021 The Bureau of Internal Revenue (BIR) has suspended the implementation of a regulation that slapped a 12-percent value-added tax (VAT) on some previously zero-rated transactions of exporters.

by Louella Desiderio, Elijah Felice Rosales (The Philippine Star), 22 Jul 2021 MANILA, Philippines — The Bureau of Internal Revenue (BIR) has agreed to suspend the imposition of the 12 percent value-added tax (VAT) on local purchases of raw materials and packaging products of exporters, according to the Philippine Economic Zone Authority (PEZA) and House…

by Alvin G. Jacobo (The Philippine Star), 20 Jul 2021 Heraclitus was quoted saying that the only constant in life is change. Many of us fear change as it causes worries and uncertainties in all aspects of life, whether it be big or small, happy or sad, life-changing or mundane, welcome or unwelcome. The worries…

by Louella Desiderio (The Philippine Star), 15 Jul 2021 MANILA, Philippines — Business groups want the Bureau of Internal Revenue (BIR) to repeal the imposition of 12 percent value-added tax (VAT) on local purchases of exporters and indirect exports, saying its implementation may lead to job losses and discourage investments in the country.

(Agence France-Presse), 2 Jul 2021 PARIS, France — A total of 130 countries have agreed a global tax reform ensuring that multinationals pay their fair share wherever they operate, the OECD said on Thursday, but some EU states refused to sign up.

(The Philippine Star), 27 Jun 2021 MANILA, Philippines — The Philippine Exporters Confederation Inc. (Philexport) has urged government to ensure that the implementation of the 12 percent VAT on indirect exports do not become another burden for exporters and micro, small and medium enterprises (MSMEs).

by Elijah Felice Rosales (The Philippine Star), 26 Jun 2021 MANILA, Philippines — The Bureau of Internal Revenue (BIR) will no longer accept applications for VAT exemption from exporters for the purchase of goods and services as part of the lifting of fiscal incentives under the new tax law.

by Elijah Felice Rosales (The Philippine Star), 26 Jun 2021 MANILA, Philippines — The government has identified 11 direct costs that firms can deduct from their taxes for a period of 10 years under the implementing rules and regulations (IRR) of the new fiscal law.

(Philstar.com), 10 Jun 2021 MANILA, Philippines — Rep. Joey Salceda (Albay) on Thursday proposed an amendment to the National Internal Revenue Code in a bid to resolve private schools’ woes on a new policy that would hike its tax rate to 25%.

by Christian Deiparine (Philstar.com), 10 Jun 2021 MANILA, Philippines — The Duterte administration on Thursday backed a new policy that would hike private schools’ tax rate to 25% amid the pandemic, despite a group appealing for the president’s help.

by Edu Punay, Delon Porcalla (The Philippine Star), 10 Jun 2021 MANILA, Philippines — The government’s new revenue regulation which increases the tax on private schools under the Corporate Recovery and Tax Incentives for Enterprises (CREATE) Law is illegal, a House leader said yesterday.

by Gerardo P. Sicat (The Philippine Star) 9 Jun 2021 The G7 finance ministers of the most economically advanced countries met in London last weekend. They agreed to resolve the thorny issues on the taxation of big multinational firms that has bothered tax authorities of many nations for decades.

by Czeriza Valencia (The Philippine Star), 9 Jun 2021 MANILA, Philippines — Private schools have asked the Court of Tax Appeals to review and stop the implementation of a revenue regulation that can significantly raise the tax take from proprietary or private educational institutions.

By: Nestor Corrales, Philippine Daily Inquirer, 8 Jun 2021 MANILA, Philippines — The Bureau of Internal Revenue (BIR) should rescind its new regulation raising the income tax on private schools by 150 percent and prevent more private education institutions from closing down, according to House Deputy Speaker Rufus Rodriguez.