Taxes

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by Philippine Daily Inquirer, 1 Jan 2020 State-run National Tax Research Center (NTRC) sees a bigger taxable base for corporations as necessary to help jack up the country’s tax revenue.In a report titled “Buoyancy and Elasticity of Taxes on Net Incomes and Profits: Calendar Years 1998-2018,” the tax think tank noted that taxes slapped on…

By: Ben O. de Vera, INQInquirer Business, 23 Dec 2019 The Department of Finance (DOF) will make a big push for the passage of the remaining packages of the Duterte administration’s comprehensive tax reform program in 2020, Secretary Carlos G. Dominguez III said. “The task of bringing forth change is a long and painful one.,”…

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by DAXIM L. LUCAS, Philippine Daily Inquirer, 16 Nov 2019 The World Health Organization (WHO) has lauded the Philippines’ efforts to impose higher excise taxes on alcohol and tobacco products as an international model for cost-effective promotion of health and reduction of non-communicable diseases.

by Mayen Jaymalin (The Philippine Star) – 30 Oct 2019 MANILA, Philippines — After tobacco and sugar, the government may soon impose higher taxes on salt.

by Kenneth Rogoff, 17 Sep 2019 Is it time for the United States to consider switching from income tax to a progressive consumption tax as a way of addressing growing wealth inequality? Many economists have long favored a consumption-based tax system for raising revenue on the grounds of efficiency and simplicity. However, despite occasional vocal…

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by Jess Diaz (The Philippine Star) – Sept 16, 2019 MANILA, Philippines — A proposed law reducing income tax on thousands of corporations could create more than one million new jobs over the 10-year reduction period, the measure’s principal authors said yesterday.

By: Daxim L. Lucas, Philippine Daily Inquirer, Aug 30, 2019 Congress needs to pass the remaining packages of the Duterte administration’s comprehensive tax reform program (CTRP) to ensure a reliable revenue base that will support the modernization of the Philippine economy, the Department of Finance (DOF) said on Thursday.

by Jess Diaz (The Philippine Star), 19 Aug 2019 MANILA, Philippines — The government lost P1.3 trillion over three years to “unnecessary” tax exemptions and other incentives thousands of businesses are allowed “to enjoy forever,” the chairman of the House of Representatives committee on ways and means said yesterday.

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by Jess Diaz, Neil Servallos (The Philippine Star), Aug 10, 2019 MANILA, Philippines — Thanks to tax incentives for establishments engaged in “medical tourism,” some of the country’s top-rated hospitals enjoy substantial tax breaks.

By Rea Cu, Businessmirror, Aug 7, 2019 THE Philippine government gave away an estimated P1.12 trillion in tax incentives and exemptions to around 3,150 companies for the period of 2015 to 2017, the Department of Finance (DOF) has reported.

By Chino S. Leyco, Manila Bulletin, Aug 6, 2019 The Philippines gave away an estimated P1.12 trillion in tax incentives and exemptions to a select group of 3,150 companies from 2015 to 2017, according to the Department of Finance (DOF).

by Lawrence Agcaoili (The Philippine Star) – Aug 2, 2019 MANILA, Philippines — The proposed bill raising taxes on alcohol, heated tobacco products and e-cigarettes is expected to raise close to P370 billion over the next five years, addressing funding gap for health care services, according to Finance Undersecretary Karl Kendrick Chua.

by Czeriza Valencia (The Philippine Star), Aug 2, 2019 MANILA, Philippines — The government had missed out on P441 billion worth of tax incentives that could have been rationalized in 2017, the Department of Finance (DOF) said.

by Business World, Jun 12, 2019 THE Department of Finance (DoF) has been ordered to step up its legislative liaison activities to ensure the passage of the remaining tax reform packages, ahead of the opening of the 18th Congrss on July 22, among other priorities that include exploring import liberalization for more agricultural products and…

By CNN Philippines Staff, Jun 3, 2019 Metro Manila (CNN Philippines, June 3) — The Senate approved on Monday a bill raising the taxes on cigarettes, which came six days after President Rodrigo Duterte called for its passage.

with a report from Ina Reformina, ABS-CBN News, ABS-CBN News, May 27, 2019 MANILA – The proposed sin tax on tobacco would be implemented in tranches to give farmers room to make the transition to other crops such as corn, onion or garlic, among others, a lawmaker said Monday.

by Bilyonaryo, May 24, 2019 The country’s biggest tax collection agency wants Philippine offshore gaming operators employing unregistered foreign nationals to settle P4.4 billion in unpaid taxes.

by Czeriza Valencia (The Philippine Star), May 23, 2019 MANILA, Philippines — The National Economic and Development Authority (NEDA) supports the proposal to further increase the excise tax imposed on tobacco and alcohol products to fund the full implementation of the Universal Health Care (UHC) program.

By: Ben O. de Vera, Philippine Daily Inquirer, Apr 09, 2019 MANILA, Philippines–The much-awaited tax amnesty on delinquencies, aimed at providing taxpayers with long-due liabilities and pending criminal cases a clean slate, will start on April 24, the Bureau of Internal Revenue (BIR) said Tuesday.

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By Rea Cu, Buniess Mirror, Feb 18, 2019 THE Bureau of Internal Revenue (BIR) has signified its intention to join the interagency task force led by the Department of Labor and Employment (DOLE) and the Bureau of Immigration (BI), which aims to check and monitor the number of Chinese nationals working in the online gaming…

by ABS-CBN News, Feb 6, 2019 MANILA – Senator Manny Pacquiao on Wednesday pushed for higher taxes on alcoholic beverages, following a similar proposal to raise duties on cigarettes.

by Iris Gonzales, The Philippine Star, Feb 4, 2019 I can’t count how many cigarettes I’ve smoked in my life, but every stick marked something big or bizarre – a heartbreaking story, a bloodied body I saw, a breathtaking mountain that made me gasp, or a quarrel with a lover.

by Macon Ramos-Araneta, Manila Standard, Jan 31, 2019 Health advocates will reject “anything” below the P60 increase in the sin tax on cigarettes based on the proposal by Senator Manny Pacquiao, citing the Department of Finance preliminary model.

By Butch Fernandez, Business Mirror, Jan 30, 2019 SENATORS are firming up a consensus on a higher tobacco tax ranging from P60 to P90 per pack. But, in an indication of how fiercely the tug-of-war between pro- and anti-tobacco tax hike is affecting lawmakers, the Senate Ways and Means Committee scheduled another public hearing next…

by Reports from Leila B. Salaverria and Marlon Ramos, Philippine Daily Inquirer, Jan 30, 2019 The Senate ways and means committee wants to look closely first into the plans of the Department of Health (DOH) for implementing universal health care and how it used its previous budgets before determining how much it would increase tobacco…