philippines - Tax & Revenue - News

Senate ratifies Tax Amnesty Bill

MANILA, Dec 13 (PNA) - The Senate on Thursday ratified the bicameral conference committee report on the bill granting a one-time opportunity to those who have failed to pay their tax obligations for taxable year 2017 and prior years - including estate taxes, general taxes and delinquent accounts - to settle their liabilities.
Date: 13 December 2018; Type: Legal News; Source: Philippine News Agency

SC affirms junking of Tax Raps vs Mikey Arroyo

MANILA, Dec 5 (PNA) - The Supreme Court (SC) upheld the dismissal of tax cases filed against former party-list representative Juan Miguel M. Arroyo.
Date: 05 December 2018; Type: Legal News; Source: Philippine News Agency

SC affirms BIR's Higher Tax Rates on Non-life Insurers

MANILA, Dec 4 (PNA) - The Supreme Court (SC) upheld the legality of the Bureau of Internal Revenue's (BIR) move to impose higher tax rates on non-life insurance companies compared to life insurance firms.
Date: 04 December 2018; Type: Legal News; Source: Philippine News Agency

Tax Reform Package Four OK'd on Final Reading at House

MANILA, Dec 3 (PNA) - The Duterte administration's fourth Comprehensive Tax Reform Program (CTRP) primarily intended to fix taxation in the financial and capital markets hurdled third and final reading at the House of Representatives.
Date: 03 December 2018; Type: Legal News; Source: Philippine News Agency

Bills on Higher Tobacco, Alcohol Taxes get Final House Nod

MANILA, Dec 3 (PNA) - The House of Representatives on Monday night approved on third and final reading two measures seeking to raise the excise taxes on alcohol and tobacco products to significantly curb consumption of both sin products and increase funding for the government's Universal Health Care (UHC) program.
Date: 03 December 2018; Type: Legal News; Source: Philippine News Agency

Tobacco Tax Hike breezes through Second Reading in House

MANILA, Nov 28 (PNA) - The House of Representatives on Wednesday approved on second reading a measure seeking to increase the excise taxes on tobacco products.
Date: 28 November 2018; Type: Legal News; Source: Philippine News Agency

House Panel moves for higher Cigarette Taxes

MANILA, Nov 27 (PNA) - The House of Representatives’ ways and means committee on Tuesday approved a measure seeking to increase the excise taxes on tobacco products.
Date: 27 November 2018; Type: Legal News; Source: Philippine News Agency

Bill on higher Alcohol Taxes gains Traction in House

MANILA, Nov 26 (PNA) - A measure seeking to raise the excise tax on alcohol products hurdled second reading at the House of Representatives.
Date: 26 November 2018; Type: Legal News; Source: Philippine News Agency

House approves Tax Amnesty Bill on Final Reading

MANILA, Nov 20 (PNA) - The House of Representatives on Tuesday approved on final reading the proposed tax amnesty program to boost the government's revenue administration and collection. Voting 213-7, the Lower House passed on third reading House Bill 8554, which seeks to grant amnesty on all unpaid impositions levied by government for taxable ...
Date: 20 November 2018; Type: Legal News; Source: Philippine News Agency

Senate approves Tax Amnesty Bill

MANILA, Nov 19 (PNA) - A one-time opportunity to settle tax obligations that would include estate taxes, general taxes and delinquent accounts will soon be granted to those who have failed to pay for taxable year 2017 and prior years.
Date: 19 November 2018; Type: Legal News; Source: Philippine News Agency

Bill granting Amnesty on Unpaid Revenue Taxes Hurdles Second Reading

The House of Representatives approved on second reading House Bill 8554 which seeks to enhance revenue administration and collection by granting amnesty on all unpaid internal revenue taxes imposed by the national government for taxable year 2017 and prior years.
Date: 15 November 2018; Type: Legal News; Source: House of Representatives

Tax Academy eyeing Post-grad Program with UPLB

The Philippine Tax Academy (PTA) is planning to team up with the University of the Philippines-Los Baños (UPLB) in offering a post-graduate program on finance and taxation to qualified employees of the Department of Finance (DOF) and its attached agencies.
Date: 16 November 2018; Type: Industry Updates; Source: Department of Finance

House Panel approves Tax Incentives for Energy Efficiency Projects

With the resumption of session, the House Committee on Ways and Means chaired by Rep. Estrellita Suansing (1st District, Nueva Ecija) hit the ground running on Monday, as it approved an unnumbered substitute bill granting incentives to energy efficiency and conservation projects.
Date: 13 November 2018; Type: Legal News; Source: House of Representatives

Palace approves Suspension of Oil Excise Tax Hike

MANILA, Nov 14 (PNA) - Suspension of the second tranche of the oil excise tax hike in 2019 will push through as recommended by the economic managers of President Rodrigo Duterte.
Date: 14 November 2018; Type: Legal News; Source: Philippine News Agency

House keen on passing Tax Reform Package 4

MANILA, Nov 13 (PNA) - Speaker Gloria Macapagal-Arroyo on Tuesday said the House of Representatives intends to pass the fourth comprehensive tax reform program (CTRP), which is a measure on reforms of financial taxes, under the Duterte administration.
Date: 13 November 2018; Type: Legal News; Source: Philippine News Agency

House Panel okays Tax Amnesty Bill

MANILA, Nov 12 (PNA) - The House of Representatives' ways and means committee on Monday approved the proposed tax amnesty program in a bid to enhance revenue administration and collection.
Date: 12 November 2018; Type: Legal News; Source: Philippine News Agency

BOC Eases Rules on Duty and Tax-Free Balikbayan Boxes

The Bureau of Customs have eased the guidelines in availing the duty and tax-free privilege of consolidated balikbayan boxes, this after the previous rules were met with criticisms from the Overseas Filipino Workers (OFW) community for the tedious requirements in availing the P150,000.00 duty and tax exemption privilege.
Date: 08 November 2018; Type: Legal News; Source: Bureau of Customs

Eligible Investors to continue enjoying Incentives under TRABAHO Bill

Foreign investors that are qualified and performing well have no reason to be worried over a pending bill in the Congress that seeks to reform the country’s convoluted Corporate Income Tax (CIT) system because they will continue to enjoy incentives and an even better set of perks under the Duterte administration’s plan to make these tim ...
Date: 01 November 2018; Type: Legal News; Source: Department of Finance

'Sin Tax' Collection improves

MANILA, Oct 30 (PNA) - Government's enhanced collection measures allowed for an increase in sin tax revenues within the first nine months of 2018, the Department of Finance (DOF) reported.
Date: 30 October 2018; Type: Industry Updates; Source: Philippine News Agency

DOF Hopeful Congress will consider Long-term Benefits of Tax Reform

The Department of Finance (DOF) remains optimistic that lawmakers will consider the long-term benefits of the Duterte administration’s Comprehensive Tax Reform Program (CTRP) by giving their stamp of approval to its remaining packages ahead of the election season.
Date: 24 October 2018; Type: Industry Updates; Source: Department of Finance

INDUSTRY UPDATES

Appeal Court hears Case of Couple sentenced to 10 Years Imprisonment

The Appeal Court heard on Monday, the case of a couple sentenced to 10 years imprisonment for the murder of a woman in June 2016.

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Union leaders Set to Appeal

All six union leaders convicted for their roles in the 2013 Veng Sreng Boulevard protests plan to bring their case to the Appeal Court, spurred on by Prime Minister Hun Sen’s assertion that three of the six men were not involved in the violent protests.

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DSI holds Cyber Crime Seminar, proposes Cyber Security Bill

BANGKOK, Dec 18 (NNT) - Thailand's Department of Special Investigation (DSI) has organized a seminar on cyber security, while proposing a national cyber security bill.

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Min of Labor's five NY Gifts

BANGKOK, Dec 17 (NNT) - The Ministry of Labor has introduced five measures in support of employers and employees alike, calling them New Year’s gifts to the people.

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SC to decide on Bangsamoro Law's Constitutionality

MANILA, Dec 18 (PNA) - Malacañang said Tuesday it will let the Supreme Court (SC) decide on the constitutionality of the Bangsamoro Organic Law (BOL) after a group of framers of the 1987 Constitution asked the high court to declare it unconstitutional and void.

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Organizations appeal against Withdrawal of Trade Favour by the EU

In a joint statement released yesterday, businesses and trade unions appealed against the withdrawal of the European Union’s Generalised Scheme of Preferences (GSP) currently enjoyed by Myanmar.

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Laos, Luxembourg review Rule of Law and Legal Education Programmes

Government officials met with representatives of the Luxembourg government in Vientiane yesterday to review the progress of the LAO-031-Legal Teaching and Training and Promotion of the Rule of Law Concept project and make plans for the year ahead.

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Najib's Legal Team' fail to get Letter of Appointment of Lead Prosecutor

KUALA LUMPUR, Dec 18 (Bernama) - The defence team in former prime minister Datuk Seri Najib Tun Razak’s SRC International Sdn Bhd case has failed to get the letter of authorisation (fiat) on the appointment of lead prosecutor Datuk Sulaiman Abdullah after the High Court here today ruled that there was no legal requirement for the prosecution to do so.

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SMEs are ‘Engine of Economy’

The Ministry of Commerce declared on Saturday that it will solve market issues hindering the development of Cambodia’s Small- and Medium-sized Enterprises (SME). But the announcement was met with scepticism by business owners in the Kingdom.

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Land Bank, TFBL ink Deal on Loan Program for Rebel Surrenderers

MANILA, Dec 17 (PNA) - In line with the ongoing efforts to reintegrate former rebels (FRs) and their families to mainstream society, Task Force Balik-Loob (TFBL) and Land Bank of the Philippines (LBP) signed a Memorandum of Agreement (MOA) last Dec. 13 for the facilitation of loans to the former as part of the government's Enhanced Comprehensive Local Integration Program (E-CLIP).

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Prosecution to apply to Transfer Case of Businessman who offered Bribe to Tengku Adnan to High Court

KUALA LUMPUR, Dec 17 (Bernama) - The prosecution in the case of a businessman charged with giving bribe of RM1 million to former Federal Territories Minister Datuk Seri Tengku Adnan Tengku Mansor will file an application to transfer the case, which is at the Sessions Court, to the High Court here.

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Seminar talks Human Rights Promotion

Hanoi, Dec 14 (VNA) - The Universal Declaration of Human Rights, a milestone document in the history of human rights adopted by the United Nations General Assembly in 1948, remains relevant today, heard a seminar in Hanoi on December 14.

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International Judicial Cooperation in Criminal Asset Recovery discussed

Hanoi, Dec 13 (VNA) - International judicial cooperation in criminal asset recovery was the main topic of a workshop held in Hanoi on December 13.

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Supreme Courts of Vietnam, Laos, Cambodia bolster Cooperation

The supreme courts of Vietnam, Laos and Cambodia have agreed to strengthen bonds in the combat against criminals and the settlement of trans-border civil cases.

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Indonesia, Vietnam commemorate 63 Year of Bilateral Relations

Jakarta, Dec 16 (ANTARA News) - Indonesia and Vietnam are commemorating 63 years of bilateral relations through fashion diplomacy at the 2018 International Fashion Fair in Vietnam, as stated in a statement from the Indonesian Embassy in Hanoi received by ANTARA here Sunday.

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Complaint against New Chief Justice to be reviewed

The Yangon regional parliament will review a complaint against new Yangon Chief Justice U Hla Aye, whose nomination was confirmed on Wednesday, a regional lawmaker said.

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Police Officer in Court to answer Charges on Unnatural Sex

KANGAR, Dec 13 (Bernama) - A senior police officer with the rank of Superintendent today was charged in the Sessions Court here for two counts of molestation and two charges of unnatural sex against two women, last year.

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INDUSTRY UPDATES

Pushing SMEs, enhancing Bank's Role, Main Goal of New SME Bank CEO

KUALA LUMPUR, Dec 16 (Bernama) - Pushing small and medium enterprises (SMEs) to strive further and to enhance SME Bank Malaysia Bhd ’s role in providing financial assistance to targeted SMEs is the main goal of its newly-appointed Chief Executive Officer Aria Putera Ismail.

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