philippines - Tax & Revenue - News

Tax Court orders P44-M Refund to San Miguel

MANILA, Jun 14 (PNA) - The Court of Tax Appeals (CTA) has granted a tax refund/credit of PHP44.48 million to San Miguel Brewery Inc. over excise taxes imposed on its beer products collected four years ago.
Date: 14 June 2019; Type: Legal News; Source: Philippine News Agency

Congress approves Higher Tax on Tobacco

MANILA, Jun 3 (PNA) - The House of Representatives on Tuesday adopted the Senate version of the measure that aims to raise the excise tax on tobacco products.
Date: 04 June 2019; Type: Legal News; Source: Philippines News Agency

Senate OKs Tobacco Tax Hike Bill with New Amendments

MANILA, Jun 4 (PNA) - The Senate approved on third and final reading a bill seeking to increase the excise tax on tobacco products after reconsidering its passage to propose new amendments.
Date: 04 June 2019; Type: Legal News; Source: Philippine News Agency

Senate okays Tobacco Tax hike Bill on Third Reading

MANILA, Jun 3 (PNA) - The Senate on Monday approved on third and final reading a measure seeking to increase the excise taxes on tobacco products in a bid to reduce smoking prevalence among Filipinos and to generate additional funding for the government's Universal Health Care program.
Date: 03 June 2019; Type: Legal News; Source: Philippine News Agency

PRRD certifies Bill seeking Higher Tobacco Excise Tax

MANILA, May 29 (PNA) - President Rodrigo R. Duterte has certified as urgent Senate Bill 2233, which seeks to increase excise taxes on tobacco products.
Date: 29 May 2019; Type: Legal News; Source: Philippine News Agency

Estate Tax Amnesty rules finalized by June

MANILA, May 27 (PNA) - The Bureau of Internal Revenue (BIR) has conducted public consultations to discuss the proposed Revenue Regulations (RR) to implement the provisions of Republic Act 11213 relative to the Estate Tax Amnesty, officials of the bureau's Public Information and Education Division said in a statement on Monday.
Date: 27 May 2019; Type: Legal News; Source: Philippines News Agency

CTA stresses Discretionary Power of Revenue Agency to abate Taxes

MANILA, May 20 (PNA) - A ruling by the Court of Tax Appeals (CTA) en banc has stressed revenue officials' discretionary power to abate a tax liability under certain circumstances.
Date: 20 May 2019; Type: Legal News; Source: Philippine News Agency

DepEd backs Bill on Tax Relief to employers of ALS Learners, Grads

MANILA, Apr 3 (PNA) - The Department of Education on Wednesday lauded the bill that would give tax relief to employers who will hire graduates or participants of its Alternative Learning System (ALS).
Date: 03 April 2019; Type: Legal News; Source: Philippine News Agency

House Panel approves Tax-Free Contributions to Political Parties

The House Committee on Ways and Means chaired by Rep. Estrellita Suansing (1st Distric, Nueva Ecija) approved on Monday the tax provisions of a substitute bill, principally authored by former President and now Speaker Gloria Macapagal-Arroyo and Majority Leader Fredenil Castro, seeking to strengthen the Philippine political party system.
Date: 05 February 2019; Type: Legal News; Source: House of Representatives

Customers' Withholding Tax on Meralco Refunds cut to 15%

MANILA, Feb 4 (PNA) - Finance Secretary Carlos Dominguez III has approved a revenue regulation (RR) reducing by almost half the 25 to 32 percent creditable withholding tax on the refund due customers of the Manila Electric Company (Meralco) to a flat 15 percent as provided under the Tax Reform for Acceleration and Inclusion (TRAIN) Law.
Date: 04 February 2019; Type: Legal News; Source: Philippines News Agency

BIR Chief vows further widening of Tax Base

MANILA, Feb 1 (PNA) - Bureau of Internal Revenue (BIR) Commissioner Caesar Dulay on Friday vowed to set in motion a more stringent audit program to further improve the tax base, which grew 5 percent in 2018.
Date: 01 February 2019; Type: Industry Updates; Source: Philippines News Agency

PTA to launch iLEARN Online Training Platform

The Philippine Tax Academy (PTA) will soon launch an online training platform that would enable employees of the Department of Finance (DOF) and its attached agencies to remotely access the institution’s course offerings via the Internet.
Date: 29 January 2019; Type: Industry Updates; Source: Department of Finance

Tax Exemption for Small-Scale Gold Miners gets Senate Nod

MANILA, Jan 29 (PNA) - The Senate on Tuesday approved on third and final reading a measure seeking to boost the country's gross international reserves (GIR) by granting tax exemptions to small-scale miners who would sell their gold to the Bangko Sentral ng Pilipinas (BSP).
Date: 29 January 2019; Type: Legal News; Source: Philippines News Agency

Over 100 Medicine Brands for Treatment of Diabetes, Hypertension, High Cholesterol now cheaper under TRAIN Law

The Food and Drug Administration (FDA) has submitted to the Department of Finance (DOF) a list of over 100 medicines with their corresponding generic names and brands for the treatment and prevention of diabetes, hypertension and high-cholesterol, the sale of which are now exempted from the payment of the value-added tax (VAT) beginning Jan. 1 as p ...
Date: 13 January 2019; Type: Industry Updates; Source: Department of Finance

Tax Academy eyeing Campuses in Tagaytay, New Clark City

The Department of Finance (DOF) is planning to set up permanent campuses of the Philippine Tax Academy (PTA) in Tagaytay City in Cavite and New Clark City at the Clark Special Economic Zone in Pampanga.
Date: 13 January 2019; Type: Industry Updates; Source: Department of Finance

Excise Tax Hike on Alcohol, Tobacco Bills certified as urgent

MANILA, Jan 9 (PNA) - President Rodrigo R. Duterte agreed to certify as urgent two measures meant to raise excise tax on alcohol and tobacco products to fund the government’s Universal Health Care (UHC) program.
Date: 09 January 2019; Type: Legal News; Source: Philippine News Agency

House approves More Benefits for Employees from Service Charge Collection

Employees of hotels, restaurants and similar establishments may soon receive a bigger share in the service charge collection, giving more benefit to the workers.
Date: 01 January 2019; Type: Legal News; Source: House of Representatives

DOE rolls out Guidelines for Oil Tax Hike Implementation

MANILA, Jan 3 (PNA) - The Department of Energy (DOE) said it will implement measures to ensure that the second tranche of excise tax hike on fuel products will be correctly implemented.
Date: 03 January 2019; Type: Legal News; Source: Philippine News Agency

DOE ready to implement Second Tranche of Oil Excise Tax Hike

MANILA, Dec 27 (PNA) - The Department of Energy (DOE) said that it is prepared to implement the second increase in oil excise taxes next year, which is called for under the Tax Reform for Acceleration and Inclusion (TRAIN) law. Under the TRAIN law, the government will impose PHP2-per-liter excise tax on diesel and gasoline products and PHP1 pe ...
Date: 27 December 2018; Type: Legal News; Source: Philippine News Agency

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

INDUSTRY UPDATES

Ambushed fiscal named Mindoro judge

MANILA, Jun 21 (PNA) - A female prosecutor who was shot and wounded as she was entering her home in Oriental Mindoro last June 10 is among the newly-appointed judges, Justice Secretary Menardo Guevara announced on Friday.

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ASEAN Chamber of Commerce, UiTM ink MoU to collaborate in Various Areas

KUALA LUMPUR, Jun 22 (Bernama) - ASEAN Chamber of Commerce and Universiti Teknologi Mara (UiTM) have inked a memorandum of understanding (MoU) to pave the way for collaboration in various areas of entrepreneurship, including research.

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President Jokowi to attend 34th ASEAN Summit in Thailand

Jakarta, Jun 20 (ANTARA) - Indonesian President Joko Widodo will attend the 34th ASEAN Summit in Bangkok, Thailand, from June 22 to 23, 2019.

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INDUSTRY UPDATES

PCC OKs East West purchase of PBCOM Auto Loan Portfolio

MANILA, Jun 19 (PNA) - The Philippine Competition Commission (PCC) approved the acquisition by East West Banking Corporation (East West) of the auto loan portfolio of Philippine Bank of Communications (PBCom).

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RI hopes for Progress in Timor Leste joining ASEAN

Jakarta, Jun 19 (ANTARA) - The Indonesian government has expressed its hopes that the ongoing evaluation of Timor Leste will result in its becoming a member of the Association of Southeast Asian Nations (ASEAN).

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MyCC to focus Efforts on Monitoring Cement Industry

KUALA LUMPUR, Jun 19 (Bernama) - The Malaysia Competition Commission (MyCC) says it will focus its efforts on consistently monitoring the cement industry in order to complement the government’s initiative in protecting the welfare of consumers.

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Amended Code did not affect Conflict of Interest - Witness

KUALA LUMPUR, Jun 18 (Bernama) - The Code of Ethics for Administration Members and Members of Parliament was amended by the Cabinet in 2013 but did not affect the conflict of interest provision, according to a Cabinet former deputy secretary-general (Constitution and Communication).

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Court urges Johor PTG to meet Orang Asli to settle Compensation Issue

JOHOR BAHRU, Jun 18 (Bernama) - The High Court here today encouraged the state Land and Mines Office (PTG) to engage in discussions with the Seletar tribe Orang Asli of Kuala Masai with the aim of settling compensation due as a result of wrongful acquisition of their land in Stulang Laut.

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Ex-CJ speaks out against Lawyers' Tendency to seek Postponements

KUALA LUMPUR, Jun 16 (Bernama) - Former Chief Justice Tun Zaki Azmi has spoken out against the tendency by certain defence lawyers to seek postponements of cases being heard in court.

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New Competition Commission already under Fire

Myanmar’s professed commitment to competition reform has come under fire after the government packed the new Competition Commission with bureaucrats serving under a minister.

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INDUSTRY UPDATES

NA Deputies give Opinions on Revised Labour Code

Hanoi, Jun 12 (VNA) - The revised Labour Code will the focus during the sitting of lawmakers on June 12 in the ongoing 7th session of the 14th National Assembly.

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INDUSTRY UPDATES

Ability to pay Taxes Online a Boon for Vietnam’s Import-Export Businesses

Hanoi, Jun 6 (VNS/VNA) - Around 99 percent of import and export tax payments in Ho Chi Minh City are made online, according to the customs department.

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OWWA joins Urban Poor Caravan

MANILA, Jun 8 (PNA) - The Overseas Workers Welfare Administration (OWWA) will be joining the Presidential Commission for the Urban Poor (PCUP) caravan to inform the public of its programs on overseas employment.

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Palace declares June 24 Holiday in Manila

MANILA, Jun 6 (PNA) - Malacañang has declared June 24 as a special, non-working holiday in the City of Manila in celebration of its 448th founding anniversary.

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Legal Profession faces inherent Risks not Exclusive to NUPL

MANILA, Jun6 (PNA) - A state lawyer of the Office of the Solicitor General said Thursday the legal profession faces "inherent risks not exclusive to the National Union of People’s Lawyers (NUPL)".

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DOJ forms Panel to probe Jacky Co Case

MANILA, Jun 6 (PNA) - A prosecution panel has been assigned for the preliminary investigation on the complaints filed against alleged Chinese drug lord Jacky Co and others implicated in the smuggling of PHP1.8 billion worth of illegal drugs into the country.

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INDUSTRY UPDATES

Myanmar still short of Judges, says Supreme Court

The number of judges in the country is just two thirds of the number required, according the 2018 annual report of the Union Supreme Court.

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INDUSTRY UPDATES

RCI on Judicial Misconduct is what People Want - Dr Mahathir

PUTRAJAYA, Jun 5 (Bernama) - The government agreed to set up a Royal Commission of Inquiry (RCI) on judicial misconduct because this is what the people want, said Prime Minister Tun Dr Mahathir Mohamad.

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