Monday, 19 February 2018
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philippines - Tax & Revenue

DOF supports House Bill calling for Tax Amnesty

MANILA, Feb 16 (PNA) - The Finance department supports House Bill 7105, which pushes for a tax amnesty program, in a bid to help the government collect taxes easily. The bill, which involves Part B of Package 1 of the Tax Reform for Acceleration and Inclusion (TRAIN) Act, is now being deliberated on by the House Committee on Ways and Means. As ...
Date: 16 February 2018; Type: Legal News; Source: Philippine News Agency

TRAIN removes Oppressive Rates for Delinquent Tax Payments

The Tax Reform for Acceleration and Inclusion (TRAIN) has done away with punitive and confiscatory interest rates that encourage delinquency rather than compliance in paying the correct amount of taxes, imposing instead a more reasonable charge based on the legal interest rate for loans set by the Bangko Sentral ng Pilipinas (BSP), according to the ...
Date: 14 February 2018; Type: Legal News; Source: Department of Finance

BOI Perks aligned with Tax Reform Package 2

MANILA, Feb 12 (PNA) - The Board of Investments (BOI) said its fiscal incentives are already aligned with the second package of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration. The CTRP package 2, which follows the Tax Reform for Acceleration and Inclusion (TRAIN) Act, is pushing for reforms in corporate income tax an ...
Date: 12 February 2018; Type: Tax News; Source: Philippine News Agency

BIR mulls Amnesty of Taxpayers with Pending Cases

MANILA, Feb 6 (PNA) - The Bureau of Internal Revenue (BIR) is considering including in its planned tax amnesty program those with pending tax evasion cases.
Date: 06 February 2018; Type: Legal News; Source: Philippine News Agency

DOF seeks Overhaul of Corporate Tax System to correct Inequities, improve Compliance

The Department of Finance (DOF) is pushing reforms in the Corporate Income Tax (CIT) system, including the lowering of the tax rates and the expansion of the functions of the Fiscal Incentives Review Board (FIRB) as an “overall administrator” to oversee all Investment Promotion Agencies (IPAs) in the country, to generate more investment ...
Date: 28 January 2018; Type: Tax News; Source: Department of Finance

Rio Tuba Nickel Mining Corporation v Commissioner of Internal Revenue

Date: 30 January 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9127; Source: Court of Tax Appeals

Filing of Proposed Sin Tax Reform moved to February

MANILA, Jan 30 (PNA) - Officials of the Department of Finance (DOF) have postponed the submission of the proposed Package 2 plus, or reforms in the sin tax law, from end-January to mid-February as they continue to fine-tune the planned tax measure.
Date: 30 January 2018; Type: Legal News; Source: Philippine News Agency

Government to seek Biz Sentiment on Tax Reform Package 2

MANILA, Jan 29 (PNA) - The government is partnering with the country’s largest business organization, Philippine Chamber of Commerce and Industry (PCCI), to solicit sentiments among businessmen on the second package of the Duterte administration’s tax reform program.
Date: 29 January 2018; Type: Legal News; Source: Philippine News Agency

Meinan Philippines Inc v Commissioner of Internal Revenue

Date: 18 January 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8839; Source: Court of Tax Appeals

Chevron Holdings Inc v Commissioner of Internal Revenue

Date: 18 January 2018; Court: Court of Tax Appeals; Citation: CTA Case Nos. 8790 & 8835; Source: Court of Tax Appeals

Tax Reform to benefit Insurance Industry : IC commissioner Funa

MANILA, Jan 26 (PNA) - Insurance Commissioner Dennis Funa is optimistic of the impact of the first package of tax reform on the insurance industry since people will have additional disposable income.
Date: 26 January 2018; Type: Tax News; Source: Philippine News Agency

Commissioner of Internal Revenue v Missouri Square Inc

Date: 24 January 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1521; Source: Court of Tax Appeals

Mitsuba Phils Technical Center Corp v Commissioner of Internal Revenue

Date: 24 January 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9032; Source: Court of Tax Appeals

Lapanday Holdings Corporation v Commissioner of Internal Revenue

Date: 24 January 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8932; Source: Court of Tax Appeals

DOF eyes Reform on Sin Taxes

MANILA, Jan 24 (PNA) - Officials of the Department of Finance (DOF) are set to submit to Congress by end-January 2018 the proposed Package 2 plus aimed at raising taxes on tobacco, alcohol, mining, coal and casinos.
Date: 23 January 2018; Type: Tax News; Source: Philippine News Agency

Over Six Million Compensation Earners to enjoy Zero Tax starting January

Starting this month's pay day, over six million or 86 percent of compensation earners with taxable income of P685 per day or P20,833 per month and below will be exempted from paying the Personal Income Tax (PIT) as provided under the Tax Reform for Acceleration and Inclusion Act (TRAIN) that was recently signed into law by President Duterte. T ...
Date: 22 January 2018; Type: Tax News; Source: Department of Finance

Commissioner of Internal Revenue v Tektite Insurance Brokers Inc

Date: 17 January 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1544; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Phil Gold Processing and Refining Corp

Date: 17 January 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1536; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Spouses Eduardo X Genato and Lydia M Genato and 2 Others

Date: 12 January 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1695; Source: Court of Tax Appeals

Light Rail Transit Authority v Commissioner of Internal Revenue

Date: 17 January 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8746; Source: Court of Tax Appeals

Industry Updates

Swiss Institute of Federalism ink Academic Cooperation with UP

MANILA, Feb 16 (PNA) - The University of the Philippines-National College of Public Administration and Governance (NCPAG) and the University of Fribourg’s Institute of Federalism (IFF) have entered into a Memorandum of Understanding (MOU) for academic cooperation and exchange, the Department of Foreign Affairs (DFA) said.

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Thailand, Cambodia discuss Nationality Verification for Migrant Workers

PHNOM PENH, Feb 14 (NNT) - Thailand's Labor Minister Adul Sangsingkeo and his Cambodian counterpart Ith Samheng discussed the nationality verification for undocumented migrant workers.

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Group urges DOLE: release Rules on 'Workplace Romance'

MANILA, Feb 13 (PNA) - A group called on the Department of Labor and Employment (DOLE) to issue guidelines on workplace romance policy to prevent employers from implementing oppressive management prerogatives.

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Individuals earning above P250K also getting Bigger Take-Home Pay under TRAIN

The Tax Reform for Acceleration and Inclusion Act (TRAIN) effectively increases the take-home pay not only of salaried workers earning P250,000 yearly and below but also of those with annual taxable income from P250,000 to a maximum of P2 million.

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ASEAN: Terrorism most serious Security Threat to Region

SINGAPORE, Feb 6 (Bernama) - The ASEAN Defence Ministers today unanimously identified terrorism as the most serious security threat to the region.

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ASEAN unanimously agreed on KSCIP Initiative

SINGAPORE, Feb 6 (Bernama) - All 10 ASEAN countries have agreed with the King Salman Center for International Peace (KSCIP) initiative, said Malaysian Defence Minister Datuk Seri Hishammuddin Tun Hussein.

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DOJ provides Legal Aid to 11,833 Persons in 2017

MANILA, Feb 4 (PNA) - Close to 12, 000 people were given legal assistance through the Department of Justice Action Center (DOJAC) in 2017.

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UP Board of Regents names Proffessor Fides Cordero-Tan as new UP Law Dean

The UP Board of Regents announced the appointment of Atty. Fides Cordero-Tan as the new dean of the UP College of Law on Jan. 26, 2018.

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IPOPHL to heighten IPR Enforcement; seeks MOU with Anti-Crime Body

The Intellectual Property Office of the Philippines (IPOPHL) is seeking to intensify intellectual property rights enforcement in the country, targeting to craft a Memorandum of Understanding (MOU) with other members of the Sub-Committee on Organized Crime of the National Law Enforcement Coordinating Committee (NALECC-SCOC).

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Century-Old Biz Group wants Mining Law amended

MANILA, Jan 31 (PNA) - The country’s oldest business organization, the Chamber of Commerce of the Philippines Islands (CCPI), has sought sponsorship in Congress to amend mining laws.

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IPOPHL eyes to expand Enforcement of Intellectual Property Rights

MANILA, Jan 29 (PNA) - The Intellectual Property Office of the Philippines (IPOPHL) aims to further expand intellectual property rights (IPR) enforcement through cooperating with members of the Sub-Committee on Organized Crime of the National Law Enforcement Coordinating Committee (NALECC-SCOS).

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SC to act on Mamasapano Trial Transfer

MANILA, Jan 26 (PNA) - The Supreme Court is set to tackle the transfer of trial of the criminal case over the Mamasapano clash that killed more than 60 persons, including 44 members of the elite Philippine National Police-Special Action Force (PNP-SAF).

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