Taxes

by Daphne Galvez, Philippine Daily Inquirer, Jan 29, 2019 MANILA, Philippines — Health advocates on Tuesday gathered outside the Senate complex in Pasay City to urge senators approve the bill seeking to further increase the excise tax on tobacco products.

Read more here.

by Dharel Placido, ABS-CBN News, Jan 8, 2019 MANILA – President Rodrigo Duterte has approved the health and finance departments’ proposal to raise the excise tax on tobacco and alcohol products, the Palace said Tuesday.

by Mary Grace Padin (The Philippine Star) – Nov 12, 2018 MANILA, Philippines — A group of local tobacco farmers has appealed to the government to reconsider the proposal to increase anew excise taxes on tobacco products.

https://twitter.com/elijahtubayan/status/1044405263074242562/photo/1

By Elijah Joseph C. Tubayan, BusinessWorld, Aug 22, 2018 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.

By Juzel Danganan, Jul 6, 2018 MANILA — Filipinos are reaping the benefits, around PHP32.5 billion per month, due to the implementation of the Tax Reform for Acceleration and Inclusion (TRAIN) law, an official of the Department of Finance (DOF) said.

Read more here.

by Audrey Morallo (philstar.com), May 28, 2018 MANILA, Philippines — An opposition lawmaker on Monday slammed government officials who brushed aside warnings that government safety nets supposed to cushion the impact of the tax reform law on prices had not yet been fully rolled out.

by Janina C. Lim, BusinessWold, May 6, 2018 THE Korean Chamber of Commerce of the Philippines, Inc. said worries about the impact of tax reform on foreign investment are a minor concern compared with the country’s restrictions on foreign ownership.

by Richmond Mercurio (The Philippine Star), May 2, 2018 MANILA, Philippines — The new tax reform law took its toll on vehicle sales in the first three months of the year, relegating the Philippines to second worst performer in Southeast Asia during the period.

By: Ben O. de Vera, Philippine Daily Inquirer, May 02, 2018 For poor families, consumer prices rose at their fastest pace in over three years during the first quarter mainly on the back of higher food, beverage and cigarette costs, the government reported Monday.

Read more here.

Read more here.

by Ben O. de Vera, Inquirer, Jan 22, 2018 Even as the planned cut in corporate income tax rates will depend on the revenue gains of the second tax reform package, Finance Secretary Carlos G. Dominguez III expressed confidence that investors will understand the government’s thrust of balancing the grant of fiscal perks.

By Rea Cu, Businessmirror, Jan 16, 2018 The Department of Finance (DOF) has formally submitted to the House of Representatives on Monday the second package of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) that aims to reduce corporate income tax (CIT) rates and “modernize” fiscal incentives.

By AC Nicholls, CNN Philippines, Jan 11, 2018 Philippines, January 11) — Anti-Poverty Chief Liza Maza said the tax reform law will make it difficult for around 21 million Filipinos living under the poverty line.

Read more here.

Read more here.

Read more here.

by Maila Ager, Inquirer, Nov 28, 2017 Voting 17-1, the Senate has finally passed on third and final reading the first package of the comprehensive tax reform program of the Duterte administration.

by Malaya, Oct 10, 2017 Eight large industry associations and members of the Joint Foreign Chambers (JFC) in the Philippines are echoing calls for Congress to retain the zero value-added tax (VAT) provisions of export-oriented companies registered with the Philippine Economic Zone Authority (PEZA).

By ANGELA CELIS, Malaya, Jun 1, 2017 Assuming it could be achieved , the Philippines’ revenue collection target of P1.83 trillion — “quite steep” by standards — will still be moderate when compared to those generated by other Southeast Asian economies.

By Jess Diaz (The Philippine Star), May 23, 2017 MANILA, Philippines – The Duterte administration will tax apartment and housing rentals and money remittances like pera padala, Rep. Carlos Zarate of party-list group Bayan Muna said yesterday.

By: Marc Jayson Cayabyab, INQUIRER.net, May 22, 2017 The party-list representatives of the cooperative sector will oppose the provision in the government’s tax package lifting the value-added tax (VAT) exemption being enjoyed by cooperatives in the country, Agricultural Sector Alliance of the Philippines (AGAP) party-list Rep. Rico Geron said on Monday.

By: Marc Jayson Cayabyab, INQINQUIRER.net, May 22, 2017 Update Bayan Muna Rep. Carlos Zarate withdrew his co-authorship of the government tax reform package bill that seeks to expand the value added tax (VAT) base and impose oil excise taxes despite lowering the personal income tax.

High-income earners shoulder only 28.4% of the tax burden, and it has a bigger gap between the taxes they owe government and the amount actually collected from them Rappler.com, Feb 27, 2017 MANILA, Philippines – Low-income earners are bearing most of the country’s tax burden, according to data from the Department of Finance (DOF).

by E.J.C. Tubayan, Businessworld, Feb 17, 2017 THE FINANCE department will issue tax refunds to minimum wage earners as soon as possible, following the high court’s decision to nullify the regulation that taxes their supposed exemptions.

By Delon Porcalla (The Philippine Star), Feb 15, 2017 MANILA, Philippines – Former president and now House Deputy Speaker Gloria Arroyo has filed a bill that seeks to provide additional tax exemption for taxpayers who take care of their elderly parents.

By Prinz Magtulis (The Philippine Star), December 4, 2016 “The Philippines imposes the lowest minimum rate of two percent on taxable motor vehicles compared with five or 10 percent in minimum tax rate in other member countries,” the state-led National Tax Research Center (NTRC) said.