philippines - Tax & Revenue - News

’Trabaho’ Bill reaches House Plenary

MANILA, Aug 14 (PNA) - The administration’s second tax reform package which aims to lower Corporate Income Taxes (CIT) and modernize incentives was sponsored before the plenary of the House of Representatives on Tuesday.
Date: 14 August 2018; Type: Legal News; Source: Philippine News Agency

Tax Academy gets PRC Accreditation

The Philippine Tax Academy (PTA) has secured the accreditation of the Professional Regulation Commission (PRC) as a professional development program provider, according to the Department of Finance (DOF).
Date: 13 August 2018; Type: Industry Updates; Source: Department of Finance

TRABAHO Bill approved by Ways and Means Committee

After six rounds of deliberation, the Tax Reform package for Attracting Better and High-quality Opportunities (TRABAHO) was approved by the House Committee on Ways and Means chaired by Rep. Dakila Carlo Cua (Lone District, Quirino). Former President and now Speaker Gloria Macapagal-Arroyo was also present in the meeting.
Date: 07 August 2018; Type: Legal News; Source: House of Representatives

House Panel approves Second Tax Reform Package

MANILA, Aug 7 (PNA) - A House of Representatives panel on Tuesday approved the administration’s second tax reform package that aims to lower corporate income taxes and modernize incentives. The House ways and means committee, chaired by Quirino Rep. Dakila Cua, approved the substitute bill entitled TRABAHO - Tax Reform for Attracting Bet ...
Date: 07 August 2018; Type: Legal News; Source: Philippine News Agency

Sotto files Bill seeking to lower Corporate Income Tax

MANILA, Aug 2 (PNA) - Senate President Vicente Sotto III on Thursday filed the bill that seeks to lower corporate income tax.
Date: 02 August 2018; Type: Industry Updates; Source: Philippine News Agency

House Panel approves 'in principle' TRAIN 2

MANILA, Aug 2 (PNA) - The House of Representatives' ways and means committee on Thursday approved "in principle" the second package of the Duterte administration's Comprehensive Tax Reform Package (CTRP), which aims to lower the Corporate Income Tax (CIT) and modernize incentives.
Date: 02 August 2018; Type: Legal News; Source: Philippine News Agency

SSS Chief supports Duterte Tax Reform Bid

MANILA, Aug 2 (PNA) - Social Security System (SSS) President and Chief Executive Officer (CEO) Emmanuel Dooc expressed support for the administration's tax reform program, taking note of its benefits to the agency and its members.
Date: 02 August 2018; Type: Legal News; Source: Philippine News Agency

Arroyo to prioritize Corporate Tax Reform

MANILA, July 31 (PNA) - Speaker Gloria Macapagal Arroyo on Tuesday said the House of Representatives will prioritize a measure that seeks to rationalize and modernize the corporate tax incentive system.
Date: 31 July 2018; Type: Industry Updates; Source: Philippine News Agency

Eminent Economists urge Congress to pass Corporate Tax Reform Bill

A group of eminent economists has called on the Congress to take “urgent action” in passing into law the Duterte administration’s proposed reforms in the corporate tax system to help fulfill its goal of making Philippine taxation “simpler, fairer and more efficient” and ensure that incentives given to businesses truly ...
Date: 23 July 2018; Type: Industry Updates; Source: Department of Finance

Do not block Tax Reforms, Duterte asks

MANILA, July 23 (PNA) - President Rodrigo Duterte on Monday said his administration’s tax reform program should be implemented to achieve sustainable growth, as he urged Congress to immediately pass its second package seeking to lower the corporate income tax and creating millions of jobs for more Filipinos.
Date: 23 July 2018; Type: Industry Updates; Source: Philippine News Agency

Supreme Court Ruling on IRA hailed

MANILA, July 21 (PNA) It looks like the country’s Local Government Units (LGUs) are now rejoicing after the Supreme Court (SC) decided with finality their rights to shares in all government revenue collections, including the Bureau of Customs among others, Rep. Jose Enriquez Garcia III (2nd District, Bataan) said Saturday.
Date: 21 July 2018; Type: Legal News; Source: Philippine News Agency

DOF Executive eyes Passage of at least Three Tax Reform Bills by Yearend

MANILA, July 19 (PNA) - Finance Undersecretary Karl Chua expressed optimism for the passage of at least three additional tax reform measures by the end of 2018.
Date: 19 July 2018; Type: Industry Updates; Source: Philippine News Agency

SMEs get Big Tax Breaks under TRAIN

MANILA, July 18 (PNA) - Small and medium enterprises (SMEs) received tax breaks amounting to billions of pesos for the first six months of 2018 alone under the Tax Reform for Acceleration and Inclusion (TRAIN) Act as they are now covered by a higher Value-Added Tax (VAT) threshold and can now choose from two options to be able to pay lower income t ...
Date: 18 July 2018; Type: Legal News; Source: Philippine News Agency

SMEs get Multibillion-Peso Tax Breaks under TRAIN

Small and Medium Enterprises (SMEs) received tax breaks amounting to billions of pesos for the first six months of 2018 alone under the Tax Reform for Acceleration and Inclusion (TRAIN) Act as they are now covered by a higher Value-Added Tax (VAT) threshold and can now choose from two options to be able to pay lower income taxes, according to Finan ...
Date: 18 July 2018; Type: Legal News; Source: Philippine News Agency

SC: IRA funds for LGUs must come from All National Taxes

MANILA, July 4 (PNA) - The Supreme Court (SC) ruled that the Internal Revenue Allotment (IRA) given to local government units must be sourced from all national taxes and not only from national internal revenue taxes collected by the Bureau of Internal Revenue (BIR) as defined in the 1987 Constitution.
Date: 04 July 2018; Type: Industry Updates; Source: Philippine News Agency

SC affirms Withholding Tax on Government Workers’ Bonuses, Fringe Benefits

MANILA, July 4 (PNA) - The Supreme Court (SC) affirmed the regulations issued by the Bureau of Internal Revenue (BIR) stating that fringe and small value benefits received by government workers are subject to withholding tax. In a media briefer released by the SC Public Information Office on Wednesday, the High Court junked the petition filed ...
Date: 04 July 2018; Type: Legal News; Source: Philippine News Agency

DTI Chief pushes for Pragmatic Direction in RCEP Deal

Trade and Industry Secretary Ramon M. Lopez urged his fellow ministers to be more realistic to conclude the Regional Comprehensive Economic Partnership or RCEP.
Date: 04 July 2018; Type: Industry Updates; Source: Department of Trade and Industry

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

INDUSTRY UPDATES

CJ Bets face JBC Grilling Over Income, Properties in SALN

MANILA, Aug 16 (PNA) - The contents of the Statements of Assets, Liabilities and Net Worth were among the issues raised by members of the Judicial Council (JBC) in Thursday's public interview for aspirants vying for the Chief Justice post.

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Reyes, Tejano-Ang Wrap up JBC Interview for CJ Post

MANILA, Aug 16 (PNA) - Supreme Court Associate Justice Andres Reyes Jr., and Judge Virginia Tejano-Ang of the Regional Trial Court Branch 1 in Tagum City, Davao del Norte were the last two aspirants for Chief Justice who went under questioning by the Judicial and Bar Council (JBC) on Thursday.

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De Castro to revive Key Reform Projects once picked as CJ

MANILA, Aug 16 (PNA) - Despite her imminent retirement from the judiciary in less than two months, Associate Justice Teresita Leonardo-De Castro on Thursday said she will be able to introduce reforms in the Supreme Court (SC) once named Chief Justice.

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Bersamin: No Pressure Felt from Gov't in Rulings on Cases

MANILA, Aug 16 (PNA) - Associate Justice Lucas Bersamin on Thursday said he has never felt any pressure from other government branches in rendering decisions on various cases.

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Court of Appeal Judge reprimanded by His Superior over Dissenting Judgment

KUALA LUMPUR, Aug 16 (Bernama) – A Court of Appeal Judge has today disclosed that he had been reprimanded by a top judge for writing a dissenting judgment in unilateral conversion of M.Indira Gandhi case two years ago.

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Judicial Activism has Led to Renaissance in Administrative Law, says Academician

KUALA LUMPUR, Aug 15 (Bernama) – There is more judicial activism now which has led to a renaissance in administrative law, according to an academician.

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Cabinet acknowledges Progress in Thailand-Myanmar Cooperation in fighting Drug Trade

BANGKOK, Aug 15 (NNT) - The Cabinet has acknowledged progress made in Thailand’s cooperation with Myanmar in tackling drug problems in the border area.

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NLA whip to decide on proposed Amendment of EC Act - VP Surachai

BANGKOK, Aug 15 (NNT) - The National Legislative Assembly whip will be the person responsible for the ultimate decision to proceed with a proposed amendment of the Election Commission Act, says the legislature’s Vice President Surachai Liengboonlertchai.

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CA confirms Poll Exec, Foreign Service, Military Officers' Appointment

MANILA, Aug 15 (PNA) - Commission on Elections (Comelec) Commissioner Marlon Casquejo and several foreign service and military officers hurdled the Commission on Appointments (CA) on Wednesday.

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House installs Yap, Pichay as New Deputy Speakers

MANILA, Aug 15 (PNA) - The House of Representatives on Wednesday elected two new deputy speakers following the ascension of Pampanga Rep. Gloria Macapagal-Arroyo to the speakership.

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Five CJ bets to face JBC Interview Thursday

MANILA, Aug 15 (PNA) - The five candidates for the post of Chief Justice of the Supreme Court (SC) will walk into the line of fire with their Judicial and Bar Council (JBC) interview set on Thursday.

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IRD to build ICT System enabling Tax Payments

Taxpayers may soon be able to pay their dues to the government via mobile banking, said U Min Htut, director general of the Internal Revenue Department (IRD).

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INDUSTRY UPDATES

Law Enforcement remains weak: Deputy Minister

Laos has enacted over 100 laws since national liberation in 1975, but law enforcement remains weak, a senior official has admitted.

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Exercise of Freedom must be in accordance to Federal Constitution - Eddin Syazlee

JOHOR BAHRU, Aug 14 (Bernama) - The exercise of individual’s right to freedom, be it freedom of religion or speech, must be done in accordance to the provisions in the Federal Constitution, says Deputy Communications and Multimedia Minister Eddin Syazlee Shith.

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International Malaysia Law Conference 2018

The 4-day International Malaysia Law Conference (“IMLC”) 2018, the flagship biennial event of the Malaysian Bar themed “Raising the Bar: Innovate. Integrate. Emulate.” is underway.

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IMLC 2018: Change of Government an impetus for strengthening the Rule of Law, says Sultan Nazrin Shah

KUALA LUMPUR, Aug 14 (Bernama) - The recent change of government in Malaysia has given a fresh impetus to strengthen the rule of law in the country, the Sultan of Perak, Sultan Nazrin Shah said today.

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1Mine urges Government to postpone SST

KUALA LUMPUR, Aug 14 (Bernama) - The government has been urged to postpone implementation of the Sales and Services Tax (SST) come Sept 1 until a directive on the newly passed tax law is clearly outlined.

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Seizure of Equanimity made according to Legal Procedures - Liew Vui Keong

KUALA LUMPUR, Aug 14 (Bernama) - Minister in the Prime Minister’s Department Datuk Liew Vui Keong told the Dewan Rakat today that the seizure of the superyatch Equanimity was made according to Malaysian procedures and laws.

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