philippines - Tax & Revenue - News

DOF reviews Implementation of Common Carriers Tax

The Department of Finance (DOF) will review current revenue regulations on the common carriers tax imposed on international air and sea cargo vessels doing business in the Philippines to ensure a level playing field and improve the country’s competitiveness in the global shipping and air cargo sectors.
Date: 11 June 2018; Type: Industry Updates; Source: Department of Finance

Government poised to suspend Excise Tax once Oil Price reaches USD80

MANILA, May 22 (PNA) - Malacañang on Tuesday assured that measures will be in place to protect consumers from incessant increase in oil prices including suspending the excise tax on fuel.
Date: 22 May 2018; Type: Industry Updates; Source: Philippine News Agency

House Panel open to review TRAIN Law

MANILA, May 15 (PNA) - The House committee on ways and means is open to review the initial phase of the Tax Reform for Acceleration and Inclusion (TRAIN) Act following calls for its suspension, its chairman said Tuesday.
Date: 15 May 2018; Type: Legal News; Source: Philippine News Agency

Comelec to refund Poll Honorarium Tax for Qualified Teachers

MANILA, May 14 (PNA) - Qualified teachers who served on Monday’s barangay and Sangguniang Kabataan polls would be able to get the 5-percent tax deducted from their honoraria and allowances, the Commission on Elections (Comelec) said.
Date: 14 May 2018; Type: Legal News; Source: Philippine News Agency

DOF: Tax Reform fueling PH Growth

MANILA, May 12 (PNA) - The Department of Finance (DOF) said the first package of the Tax Reform for Acceleration and Inclusion (TRAIN) Law provides ample fiscal space for the government to fund programs that support economic growth.
Date: 12 May 2018; Type: Legal News; Source: Philippine News Agency

No Travel Tax for Travelers to BIMP-EAGA: Duterte

MANILA, May 10 (PNA) - President Rodrigo R. Duterte has exempted travelers going to any destination in the Brunei-Darussalam-Indonesia-Malaysia-Philippines-East ASEAN Growth Area (BIMP-EAGA) from paying travel tax.
Date: 10 May 2018; Type: Legal News; Source: Philippine News Agency

Calls mount for Tax-Free Poll Pay for Teachers

MANILA, May 9 (PNA) - Lawmakers from the House of Representatives on Wednesday joined the mounting calls to waive the withholding tax on the honoraria and travel allowances for public school teachers, who will render service in the upcoming Barangay and Sangguniang Kabataan (SK) elections.
Date: 09 May 2018; Type: Legal News; Source: Philippine News Agency

DOF asserts Legality of TRAIN Package 2

Finance Assistant Secretary Paola Alvarez has asserted the legality of Package 2 of the Tax Reform for Acceleration and Inclusion Act (TRAIN), claiming that there are no vested rights in the grant of tax incentives to certain businesses because these are “mere statutory privileges, and as such, its granting may be modified or withdrawn at the ...
Date: 27 April 2018; Type: Legal News; Source: Department of Finance

Revenue Regulation on Sweetened Drinks still under Review

MANILA, Apr 17 (PNA) - The Bureau of Internal Revenue (BIR) has yet to produce a Revenue Regulation (RR) on the newly-adopted excise tax for sugar-sweetened beverages. A BIR official says they are taking their time on the matter so as to address any issue that may crop up.
Date: 17 April 2018; Type: Legal News; Source: Philippine News Agency

TRAIN Law addresses Gaps in Human Capital

CLARK FREEPORT ZONE, Pampanga, Apr 13 (PNA) - Finance Secretary Carlos Dominguez III said the Tax Reform for Acceleration and Inclusion (TRAIN) Law is addressing the country’s challenges in human capital development.
Date: 13 April 2018; Type: Industry Updates; Source: Philippine News Agency

DOF cites Reason for Sin Products' Tax Hikes

MANILA, Apr 10 (PNA) - Faster rate of price increases of sin products, namely tobacco and alcoholic beverages, among others, continues to push domestic inflation higher to 4.3 percent last March from the revised 3.8 percent in February 2018.
Date: 10 April 2018; Type: Tax News; Source: Philippine News Agency

Business Leaders back Corporate Tax Reform

The country’s business leaders have expressed their full support for the Duterte administration’s proposed reforms in corporate taxation and the grant of investment incentives, which they described as “a bold move” to sharpen the Philippines’ competitiveness in the region.
Date: 01 April 2018; Type: Industry Updates; Source: Department of Finance

BIR files Tax Evasion Raps vs Gold Trader

MANILA, Mar 22 (PNA) - The Bureau of Internal Revenue (BIR) filed before the Department of Justice (DOJ) five tax evasion complaints against a gold trader.
Date: 22 March 2018; Type: Legal News; Source: Philippine News Agency

Hike in Sin Tax may push February Inflation to reach 4.1%

MANILA - Tax increases on sin products might have pushed Philippines inflation rate in February 2018 to 4.1 percent from month-ago’s 4 percent, according to the Department of Finance (DOF).
Date: 05 March 2018; Type: Tax News; Source: Philippine News Agency

Perks on Tax Reform Package 2 more relevant: DTI

MANILA, Mar 1 (PNA) - The Department of Trade and Industry (DTI) sees the rationalization of fiscal incentives under second package of the Comprehensive Tax Reform Program (CTRP) as more relevant.
Date: 01 March 2018; Type: Tax News; Source: Philippine News Agency

Government eyes Single Investment Plan under CTRP Package 2

MANILA, Feb 27 (PNA) - The government eyes a single investment priorities plan across all Investment Promotion Agencies (IPAs) under the second package of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration.
Date: 27 February 2018; Type: Tax News; Source: Philippine News Agency

Tax Neutrality for Islamic Banking hurdles House Panel

MANILA, Feb 21 (PNA) - A bill seeking to organize and regulate Islamic banks in the country has hurdled committee level at the House of Representatives. The House committee on ways and means, chaired by Quirino Rep. Dakila Cua, approved an unnumbered substitute bill that seeks to expand the Islamic banking system in the Philippines. The H ...
Date: 21 February 2018; Type: Legal News; Source: Philippine News Agency

Reforms open Opportunities for e-Vehicles in PH

MANILA, Feb 20 (PNA) - Reforms on tax and transportation in the country opened more opportunities for electric vehicle players, Electric Vehicle Association of the the Philippines (EVAP) President Rommel Juan said.
Date: 20 February 2018; Type: Tax News; Source: Philippine News Agency

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

INDUSTRY UPDATES

DOJ-OOC continues Conduct of Judicial Training on Cybercrime for the ASEAN Prosecutors and Judges

The Department of Justice - Office of Cybercrime (DOJ-OOC), in partnership with the Supreme Court of the Philippines and the Global Action on Cybercrime Extended (GLACY+) Project, is set to conduct the Advanced Judicial Training Course on Cybercrime and Electronic Evidence for Judges, Magistrates and Prosecutors for the ASEAN Region in Cebu, Philippines on 19-22 June 2018.

Read More

INDUSTRY UPDATES

DOJ Chief: Amended Constitution must clarify Impeachment Rules

MANILA, June 21 (PNA) - The country's Constitution, once amended, must clarify the rules on impeachment to avoid controversies in the future, Justice Secretary Menardo Guevarra said on Thursday.

Read More

INDUSTRY UPDATES

Guevarra on granting Fox's Appeal: 'it's following the Rule of Law'

MANILA, June 21 (PNA) - Justice Secretary Menardo Guevarra on Thursday clarified that he is just following the rule of law when he granted the appeal of Australian nun Sr. Patricia Fox to reverse the Bureau of Immigration's decision forfeiting her visa and ordering her to leave the country.

Read More

INDUSTRY UPDATES

UK eases Visa Application Processes for Indonesian Students

Jakarta, June 20 (ANTARA News) - The United Kingdom (UK) Visas & Immigration service is easing visa application processes for Indonesian students by reducing the documentation requirements for Tier-4 student visa applicants.

Read More

INDUSTRY UPDATES

Indonesia, Finland achieve Significant Increase in Bilateral Ties

Jakarta, June 21 (ANTARA News) - Indonesia and Finland have achieved a significant increase in bilateral ties in 2017, Indonesian Foreign Minister Retno LP Marsudi said.

Read More

INDUSTRY UPDATES

Some Workers at Thai Factory agree to Compensation

Half of the nearly 300 Myanmar workers who were sacked by a fishing net factory in Thailand have agreed to a promise by their employer to pay them 13 days of unpaid wages.

Read More

INDUSTRY UPDATES

KPKT reviews National Housing Policy - Zuraida

KUCHING, June 21 (Bernama) - The Ministry of Housing and Local Government (KPKT) is reviewing the national housing policy to ensure it is suitable to the current situation in the country, said its minister Zuraida Kamaruddin.

Read More

INDUSTRY UPDATES

Government under rising pressure to correctly tax Ride-Hailing Companies

Since June 13, ride hailing companies operating in Yangon have been obliged to pay income and commercial tax to the Yangon government under the law, U Myint Thaung, regional minister of Planning and Finance said in parliament.

Read More

INDUSTRY UPDATES

PM Prayut: Death Penalty is Legitimate and most People agree

BANGKOK, June 20 (NNT) - The Prime Minister, Gen. Prayut Chan-o-cha, has voiced support for the execution of convicted murderers.

Read More

INDUSTRY UPDATES

Government welcomes Opinions about Implementation of Thailand 4.0 Policy

BANGKOK, June 19 (NNT) - The government continues efforts to implement the Thailand 4.0 policy while welcoming opinions from all sides on helping to achieve its goal.

Read More

INDUSTRY UPDATES

On World Refugee Day, De Lima files Bill to protect Refugees and Stateless Persons

In observance of World Refugee Day, Opposition Senator Leila M. de Lima today filed a measure seeking to promote and protect the rights of refugees and stateless persons in the country and prescribe a fair procedure for their status determination and eligibility.

Read More

INDUSTRY UPDATES

MoF invites Feedback on proposed changes to the Income Tax Act

The Ministry of Finance have invited interested parties to provide feedback on the draft Income Tax (Amendment) Bill 2018 from 20 June to 11 July 2018.

Read More

INDUSTRY UPDATES

Labor Ministry aims to find Jobs for 100,000 Unemployed Graduates

BANGKOK, June 19 (NNT) - The Labor Minister, Pol. Gen. Adul Sangsingkeo, said the Ministry of Labor aims to find jobs for about 100,000 unemployed graduates within three months.

Read More

INDUSTRY UPDATES

Ex-President Aquino sued over DAP Mess

MANILA, June 20 (PNA) - Ombudsman Conchita Carpio Morales has indicted former President Benigno Simeon Aquino III for usurpation of legislative powers in connection with the alleged anomalous Disbursement Acceleration Program (DAP).

Read More

INDUSTRY UPDATES

Duterte appoints CA, Sandiganbayan Associate Justices

MANILA, June 20 (PNA) - President Rodrigo R. Duterte has appointed new associate justices at the Court of Appeals (CA) and Sandiganbayan. Duterte appointed Emily Aliño-Geluz as CA Associate Justice and Georgina Dumpit Hidalgo as Sandiganbayan Associate Justice.

Read More