philippines - Tax & Revenue - News

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

Solon calls for Implementation of 10% Fare Cut under TRAIN Law

MANILA, Oct 19 (PNA) - A lawmaker at the House of Representatives on Friday called for the implementation of the additional 10-percent fare discount in public utility vehicles, as provided in the Tax Reform for Acceleration and Inclusion (TRAIN) law.
Date: 19 October 2018; Type: Industry Updates; Source: Philippine News Agency

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MITI, MIDA, Intel hold IoT Forum to review Progress

KUALA LUMPUR, Dec 12 (Bernama) - The Ministry of International Trade and Industry (MITI), Malaysian Investment Development Authority (MIDA) and Intel Malaysia conducted the Internet of Things (IoT) Malaysia Forum 2018 yesterday to review IoT’s progress since its introduction five years ago.

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Unions request Government to set Workers’ Minimum Wage

Unions have asked the government to set the minimum wage for the construction and service sectors and to solve the five other major problems facing them, a statement released on International Human Rights Day on Monday said.

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Dewan Rakyat adjourns, Reform Agenda implemented - Speaker

KUALA LUMPUR, Dec 11 (Bernama) - The reform agenda of the Parliament was implemented at the second meeting of the first term of the 14th Parliament which came to a close today after sitting for 30 days since Oct 15.

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Court proposes Mediation in Theresa Kok's Suit against Jamal

KUALA LUMPUR, Dec 11 (Bernama) - The High Court today proposed that Primary Industries Minister Teresa Kok who filed a libel suit against Datuk Seri Jamal Md Yunos over alleged misuse of Yayasan Warisan Anak Selangor (Yawas) funds, resolve the case via mediation.

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Vietnam, Laos boost Judicial Cooperation

Hanoi, Dec 10 (VNA) - Vietnamese Minister of Justice Le Thanh Long and his Lao counterpart Xaysi Santivong agreed to work closely together to launch a bilateral cooperation programme for 2019, during their talks in Hanoi on December 10.

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Nation marks Constitution Day

BANGKOK, 10th December 2018 (NNT) - Today marks National Constitution Day, observing the importance of the administrative document and celebrating its 20 incarnations throughout the democratic history of Thailand.

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Court has Final Say on Trillanes' Travel Abroad: DOJ

MANILA, Dec 10 (PNA) - Justice Secretary Menardo Guevarra on Monday said the Bureau of Immigration (BI) will not prevent Senator Antonio Trillanes IV from traveling abroad if no travel ban is handed down by the courts against him.

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Government concerned about Readiness of SMEs to adopt Industry 4.0

KUALA LUMPUR, Dec 10 (Bernama) - The Government is concerned about the readiness of local industries, particularly Small and Medium Enterprises (SMEs), to adopt Industry 4.0.

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Memorandum of Understanding between Bank Negara Malaysia and Dubai Financial Services Authority

On 28 November 2018, Bank Negara Malaysia (BNM) and Dubai Financial Services Authority (DFSA) had signed a Memorandum of Understanding (MoU) on supervisory cooperation for effective supervision of banking and insurance/ takaful/ reinsurance institutions operating in both countries.

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DFA holds first ever Gender and Development Assembly

MAKATI, Dec 6- As part of the Department of Foreign Affairs’ (DFA) programs to continually mainstreaming gender and development (GAD) policies in its programs and activities, it hosted the agency’s first ever Gender and Development (GAD) Assembly at the Makati Diamond Residences on 06 to 08 November 2018.

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Vietnam, Cambodia PMs attend Business Forum

Vietnam and Cambodia could make their two-way trade value at US$7-8 billion by 2020 as they have established sound cooperation across sectors and their governments have regularly taken measures to remove difficulties for businesses, Prime Minister Nguyen Xuan Phuc said.

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Cambodia, Laos set to boost Bilateral Trade

Cambodia and Laos have pledged to boost trade and investment across their border, while trade volume between the two countries last year was just over $27 million, according to the Cambodian Ministry of Commerce.

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Revenue Department says it does not collect Higher Tax from Online Merchants

BANGKOK, Dec 8 (NNT) - The Revenue Department has insisted that the Revenue Code Amendment Act draft is not intended to make online merchants pay more tax but to analyze the behavior of taxpayers.

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New e-Payment Taxation to facilitate Online Retailers: RD

BANGKOK, Dec 7 (NNT) - The new e-payment taxation is designed to support the growth of electronic transactions and to help online retailers pay the tax more conveniently, said Revenue Department's (RD) Spokesman Pinsai Suraswadi.

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Education minister stresses the Importance of “Rule of Law”

BANGKOK, Dec 8 (NNT) - Education Minister Teerakiat Jareonsettasin has attended a conference with education related officials, stressing the importance of the “rule of law” when introducing policies.

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Go hails Silay City for Fair implementation of Law

MANILA, Dec 7 (PNA) - Former Special Assistant to the President (SAP) Christopher Lawrence “Bong” Go on Friday commended Silay City for its fair implementation of laws and ordinances even if it resulted in the removal of a tarpaulin bearing his name at the city plaza.

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JBC opens Application for SC, LEB Vacancies

MANILA, Dec 7 (PNA) - The Judicial and Bar Council (JBC) on Friday opened the application for the vacancy in the 15-man Supreme Court (SC).

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Supreme Court suspends Judge over alleged Graft Case

Jakarta, Dec 8 (ANTARA News) - The Supreme Court has decided to temporarily suspend a Semarang district court judge after the Corruption Eradication Commission (KPK) named him a suspect in a graft case.

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