philippines - Tax & Revenue

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

AGC Flat Glass Philippines Inc v Bureau of Customs

Date: 09 May 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8752; Source: Court of Tax Appeals

Duty Free Philippines Corporation v Bureau of Internal Revenue

Date: 08 May 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9355; Source: Court of Tax Appeals

Sorsogon Electric Cooperative II (SORECO) v The Bureau of Internal Revenue (BIR)

Date: 17 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9377; Source: Court of Tax Appeals

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

Clark Water Corporation v Commissioner of Internal Revenue

Date: 03 May 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9286; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Philippine National Bank and Another Appeal

Date: 25 April 2018; Court: Court of Tax Appeals; Citation: CTA EB Nos. 1615 & 1617; Source: Court of Tax Appeals

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

Yusen Logistics Center Inc v Commissioner of Internal Revenue

Date: 26 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9109; Source: Court of Tax Appeals

Circularizing the Revised BIR Form No. 2551Q

This Circular is to notify the newly revised BIR Form No. 2551Q which refers to the new quarterly percentage tax return which was revised and affected by the implementation of the TRAIN Law and the revised date of January 2018. Revenue Memorandum Circular No. 26-2018
Date: 19 April 2018; Type: Circular; Source: Bureau of Internal Revenue

Tektite Insurance Brokers Inc v Commissioner of Internal Revenue

Date: 12 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8903; Source: Court of Tax Appeals

Commissioner of Internal Revenue v Premium Leisure Corp

Date: 25 April 2018; Court: Court of Tax Appeals; Citation: CTA EB No. 1702; Source: Court of Tax Appeals

Omnibus Rules and Regulations Governing Tax-Exempt Importations for Petroleum Operations

This Department Circular shall govern the application, processing, approval and issuance of tax-exempt certificates for the importation, exportation and disposal of machinery, equipment, spare parts and materials used for Petroleum and Coal Operations. Department Circular No. DC2018-03-0006
Date: 15 March 2018; Type: Circular; Source: Department of Energy

Colt Commercial Inc v The Commissioner of Internal Revenue

Date: 20 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9205; Source: Court of Tax Appeals

Bonifacio Land Corporation v Commissioner of Internal Revenue

Date: 19 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 9068; Source: Court of Tax Appeals

Guidelines in the Filing Receiving and Processing of 2017 Income Tax Returns including its Attachments

This is to notify of the updated guidelines in the filing, receiving and processing of 2017 Income Tax Returns including its attachments, due on or before April 16, 2018, or on or before the 15th day of the fourth month following the close of the taxpayer’s taxable year. Revenue Memorandum Circular No. 24-2018
Date: 10 April 2018; Type: Circular; Source: Bureau of Internal Revenue

Lepanto Consolidated Mining Company v Commissioner of Internal Revenue

Date: 18 April 2018; Court: Court of Tax Appeals; Citation: CTA Case No. 8970; Source: Court of Tax Appeals

INDUSTRY UPDATES

Labor Ministry signs MOU on developing Skilled Workers for EEC

CHONBURI, May 21, (NNT) - Thailand's Labor Ministry has signed a memorandum of understanding (MOU) with educational institutions on developing workers' skills, in preparation for the Eastern Economic Corridor (EEC).

Read More

INDUSTRY UPDATES

SC Employees call for unity in another 'Red Monday' Action

MANILA, May 21 (PNA) - Supreme Court (SC) officials and employees wore red clothes during Monday’s flag ceremony as they called for unity and for the public to respect the magistrates' ruling on the quo warranto case against ousted Chief Justice Maria Lourdes Sereno.

Read More

INDUSTRY UPDATES

IPOPHL confers Special Awards to Academic Institutions, Government, and Private Sectors

During the Intellectual Property Convergence Forum 2018, the Intellectual Property Office of the Philippines (IPOPHL) awarded institutions and companies across government, academe, and the private sector who have been the most prolific users of the intellectual property system since 1998.

Read More

INDUSTRY UPDATES

CBT: Court rejects Prosecution's Request to recall Witness

KUALA LUMPUR, May 21 (Bernama) - The Sessions Court today dismissed an application by the prosecution in the case of two former Felda senior officers charged with two counts of criminal breach of trust (CBT) and abetment involving over RM47 million, to recall a rebuttal witness.

Read More

INDUSTRY UPDATES

GST, SST, Fuel, Toll among CEP Topics Next Week

KUALA LUMPUR, May 18 (Bernama) - The Council of Eminent Persons (CEP) is expected to further discuss the fuel subsidy, Goods and Services Tax, Sales and Services Tax and the abolition of road tolls in a series of meetings to be held next week, says Tun Daim Zainuddin.

Read More

INDUSTRY UPDATES

USIM Faculty of Syariah & Law launches Syarie Legal Aid Clinic

USIM Faculty of Syariah & Law launches Syarie Legal Aid Clinic

Nilai, 19 May 2018: The Universiti Sains Islam Malaysia (USIM) Faculty of Syariah & Law has today launched a Syarie Legal Aid Clinic (the Clinic) to offer legal assistance in Islamic law matters. The launch was officiated by Datuk Dr Mohd Naim Mokhtar, Syariah Court of Appeal judge.

Read More

INDUSTRY UPDATES

IPOPHL lauds 11 individuals, Institutions as Intellectual Property Champions

The Intellectual Property Office of the Philippines (IPOPHL), in the recently held Intellectual Property Convergence Forum 2018, recognised 11 outstanding individuals and associations who have been staunch partners of the agency in pushing the intellectual property agenda forward.

Read More

INDUSTRY UPDATES

ASEAN Committee in DC holds First Meeting under PH Chairmanship

WASHINGTON, D.C., May 18 - Philippine Ambassador to the United States Jose Manuel G. Romualdez presided over the first regular meeting of the ASEAN Committee in Washington (ACW) under the Philippines’ chairmanship at the Philippine Chancery Annex building on 11 May.

Read More

INDUSTRY UPDATES

UP Institute of Human Rights holds "Strengthening Support for RPRH Law Implementation: Training of Legal Advocates"

The Institute of Human Rights, in cooperation with the Population Commission, conducted a three-day seminar last April 4 to 6, 2018 entitled “Strengthening Support for RPRH Law Implementation: Training of Legal Advocates.”

Read More

INDUSTRY UPDATES

Land Transport Department gets Tough with Law-Breaking Public Vehicles

BANGKOK, May 20 (NNT) - The Department of Land Transport (DLT) has launched a transport safety campaign to prompt operators of public vehicles countrywide to improve the safety of passengers.

Read More

INDUSTRY UPDATES

JBC to wait for Final Quo Warranto ruling for CJ Post

MANILA - The Judicial and Bar Council (JBC) has not yet opened the position of Chief Justice as it still waits for the final ruling of the Supreme Court (SC) on the quo warranto case against ousted chief magistrate Maria Lourdes Sereno.

Read More

INDUSTRY UPDATES

Old Commemorative Coins to be demonetized

MANILA, May 18 (PNA) - Commemorative coins minted from 1974 to 1994 are set to be demonetized, the Bangko Sentral ng Pilipinas (BSP) announced Friday.

Read More

INDUSTRY UPDATES

List of Cabinet Ministers announced

KUALA LUMPUR, May 18 (Bernama) - Following are the Cabinet ministers led by Prime Minister Tun Dr Mahathir Mohamad announced today:

Read More

INDUSTRY UPDATES

Ministry of Construction says it punished 99 Employees in Two Years

In the two years of the government’s term, 99 employees of the Ministry of Construction were punished, Deputy Minister U Kyaw Lin said at a press conference on the performance of the government on Tuesday.

Read More

INDUSTRY UPDATES

Shukri Abdull heads MACC as Chief Commissioner

PETALING JAYA, May 17 (Bernama) - Former Malaysian Anti-Corruption Commission (MACC) deputy chief commissioner Datuk Seri Shukri Abdull has been named to head the MACC, taking over from Tan Sri Dzulkifli Ahmad who resigned from the post last Monday.

Read More