philippines - Tax & Revenue - News

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to certain businesses because these are “mere statutory privileges, and as such, its granting may be modified or withdrawn at the ...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

BOI Perks aligned with Tax Reform Package 2

MANILA, Feb 12 (PNA) - The Board of Investments (BOI) said its fiscal incentives are already aligned with the second package of the Comprehensive Tax Reform Program (CTRP) of the Duterte administration. The CTRP package 2, which follows the Tax Reform for Acceleration and Inclusion (TRAIN) Act, is pushing for reforms in corporate income tax an ...
Date: 12 February 2018; Type: Tax News; Source: Philippine News Agency

BIR mulls Amnesty of Taxpayers with Pending Cases

MANILA, Feb 6 (PNA) - The Bureau of Internal Revenue (BIR) is considering including in its planned tax amnesty program those with pending tax evasion cases.
Date: 06 February 2018; Type: Legal News; Source: Philippine News Agency

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