Friday, 24 November 2017
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philippines - Tax & Revenue - News

Bessang Pass Endowments get Tax Relief

The House committee on ways and means chaired by Rep. Dakila Carlo Cua (Lone District, Quirino) approved the amended tax provision of a bill declaring the historic Bessang Pass Natural Monument (BPNM) in Cervantes, Ilocos Sur a protected area.
Date: 13 November 2017; Type: Tax News; Source: House of Representatives

Donations to eye screening for Kinders to be Tax-Free

The House committee on ways and means chaired by Rep. Dakila Carlo Cua (Lone District, Quirino) has approved a provision of a bill on eye screening for kindergarten pupils that exempts from tax donations to the program.
Date: 10 November 2017; Type: Legal News; Source: Philippine News Agency

BOC issues Rules on handling Intercepted Drug Shipments

MANILA, Nov 8 (PNA) - The Bureau of Customs (BOC) on Wednesday issued guidelines on the proper handling of apprehended illegal drugs.
Date: 08 November 2017; Type: Legal News; Source: Philippine News Agency

PAL settles P6-B unpaid Navigational Dues

MANILA, Nov 3 (PNA) - The Philippine Airlines (PAL) on Friday settled its unpaid air navigational charges worth PHP6 billion to the Civil Aviation Authority of the Philippines (CAAP) and the Manila International Airport Authority (MIAA).
Date: 03 November 2017; Type: Tax News; Source: Philippine News Agency

System Loss to be exempt from VAT

The House of Representatives approved on second reading House Bill 1616 seeking to exempt the system loss charge component in the sale of electricity by distribution companies and electric cooperatives from the coverage of the value added tax (VAT) to lower power rates.
Date: 25 October 2017; Type: Tax News; Source: House of Representatives

BIR files Tax Evasion Raps vs 7 Firms

MANILA, Oct 24 (PNA) - The Bureau of Internal Revenue (BIR) on Tuesday filed separate tax evasion complaints before the Department of Justice (DOJ) against six corporate firms and two delinquent taxpayers for alleged failure to pay taxes amounting to PHP757 million.
Date: 24 October 2017; Type: Tax News; Source: Philippine News Agency

Study of New Tax Plan on

The labor department is studying the impact of the proposed congressional tax reform measure on workers' income.
Date: 12 October 2017; Type: Tax News; Source: Department of Labor and Employment

BIR delays Release of New Tax Stamps to January '18

MANILA, Oct 11 (PNA) - The Bureau of Internal Revenue (BIR) has postponed the release of new tax stamps to enhance its security features.
Date: 11 October 2017; Type: Legal News; Source: Philippine News Agency

Travel Tax Exempt to Kids of OFWs pushed

The House committee on overseas workers affairs chaired by Rep. Jesulito Manalo (Party-list, ANGKLA) has approved House Bill 6138 seeking to grant travel tax exemption to dependents of married or solo parent overseas Filipino workers (OFWs).
Date: 11 October 2017; Type: Legal News; Source: House of Representatives

Pacquiao seeks higher Excise Tax on Tobacco Products

MANILA, Oct 10 (PNA) - To further discourage Filipinos from smoking, Senator Manny Pacquiao on Tuesday said he wants the current cigarette tax rate of PHP30 per pack increased to PHP60 a pack.
Date: 10 October 2017; Type: Tax News; Source: Philippine News Agency

BOC revises Rules on Release of Alerted Shipments

MANILA, Oct 9 (PNA) - Bureau of Customs (BOC) Commissioner Isidro Lapeña has amended an order allowing the release of an alerted shipment within 48 hours provided that it has been cleared by its examiner.
Date: 09 October 2017; Type: Legal News; Source: Philippine News Agency

Foreign Chambers bat to retain Xero VAT for PEZA Locators

MANILA, Oct 9 (PNA) - The Joint Foreign Chambers of the Philippines (JFC) is batting to maintain the status quo of exempting locators in Philippine Economic Zone Authority (PEZA) from the 12-percent value added tax (VAT).
Date: 09 October 2017; Type: Tax News; Source: Philippine News Agency

House amenable to reconcile with Senate Version of Tax Reform Bill

MANILA, Oct 9 (PNA) - The House of Representatives is amenable to reconciling differences with the Senate version of the Tax Reform for Acceleration and Acceleration (TRAIN) bill, a House leader said on Monday.
Date: 09 October 2017; Type: Tax News; Source: Philippine News Agency

DOJ dismisses Tax Raps vs Mighty Corp after BIR withdraws Complaint

MANILA, Oct 6 (PNA) - The Department of Justice (DOJ) has dismissed the tax evasion complaint filed by the Bureau of Internal Revenue (BIR) against local cigarette manufacturer Mighty Corporation.
Date: 06 October 2017; Type: Legal News; Source: Philippine News Agency

Balikbayan Box Regulations suspended

MANILA, Oct 5 (PNA) - The Bureau of Customs (BOC) on Thursday announced the temporary suspension of the guidelines in the implementation of the duty and tax-free policy for consolidated balikbayan boxes, due to the numerous criticisms among overseas Filipino workers (OFW) on the rules in availing of tax-exempt privilege.
Date: 05 October 2017; Type: Tax News; Source: Philippine News Agency

TRAIN needed for PHL to join Elite Club of High-Income Economies

Finance Secretary Carlos Dominguez III said Thursday night the Philippines has reached the “make-or-break point” in its economic emergence, with the Comprehensive Tax Reform Program (CTRP) being pushed by the Duterte administration in the Congress setting the stage for the country to join the elite club of the world’s fast-growing ...
Date: 28 September 2017; Type: Legal News; Source: Department of Finance

Group says Beverage Tax to drop Micro Biz Sales to 60%

MANILA - The Federation of Philippine Industries (FPI) said that the proposed sugar-sweetened beverages (SSB) tax under the Tax Reform for Acceleration and Inclusion (TRAIN) bill will result to drop of sales of micro enterprises by 40 to 60 percent.
Date: 26 September 2017; Type: Tax News; Source: Philippine News Agency

House Panel resumes Inquiry on Tobacco Excise Tax

The House committee on good government and public accountability chaired by Rep. Johnny Pimentel resumed its congressional inquiry on the utilization by the Provincial Government of Ilocos Norte (PGIN) of its shares from the excise tax on locally manufactured Virginia-type cigarettes.
Date: 26 September 2017; Type: Legal News; Source: House of Representatives

Nancy to CHED: Comply with Tourism Act, use Travel Tax for Tourism-related Education Programs

Senator Nancy Binay on Sunday reminded the Commission on Higher Education (CHED) that it had to follow the Tourism Act of 2009 which mandates it to fund tourism-related educational programs and courses.
Date: 24 September 2017; Type: Tax News; Source: Senate of The Philippines

Maguindanao Mayor guilty of Neglect of Duty over Unremitted Pag-ibig Premiums and BIR Taxes

The Office of the Ombudsman has found former South Upi, Maguindanao Mayor Abdullah Campong, guilty of Simple Neglect of Duty and was ordered suspended without pay for three months and one day. In the event of separation from service, the penalty is convertible to a fine equivalent to respondent’s salary for the same period.
Date: 25 September 2017; Type: Legal News; Source: Office of the Ombudsman

Industry Updates

Government winning War against Contractualization - Bello

The labor department is winning the war to eliminate labor-only contacting and other forms of illegal contracting arrangements, Labor Secretary Silvestre Bello III said yesterday.

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Roque is concurrent Presidential Adviser on Human Rights

MANILA, Nov 22 (PNA) - Presidential Spokesperson Harry Roque has been appointed by President Rodrigo Duterte as concurrent Presidential Adviser on Human Rights.

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House to work on Priority Bills during SC Chief Impeach Proceedings

House leaders today assured that Congress will remain focused on passing its remaining legislative priorities for the year and will not be distracted by the hearings of the committee on justice on the determination of probable cause of the impeachment complaint filed against Supreme Court Chief Justice Maria Lourdes Sereno.

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Sereno to snub Impeach Hearings; Lawyers to attend

MANILA, Nov 21 (PNA) - Supreme Court Chief Justice Maria Lourdes Sereno will attend the House Justice Committee's hearing on her impeachment through her legal counsel on Wednesday amid Speaker Pantaleon Alvarez' call to show up and personally face her accusers.

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Online Corporate Registration System launched

MANILA - The Securities and Exchange Commission (SEC) on Tuesday launched a new online system that ensures quick and easy registration of new corporations in a bid to further improve the ease of doing business in the country.

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New ASEAN e-Commerce Framework to benefit More Local MSMEs

KUALA LUMPUR, Nov 21 (Bernama) - The new ASEAN framework on e-commerce, currently being implemented by the ASEAN Coordinating Committee on E-commerce, is expected to open up more opportunities for micro and small and medium enterprises (MSMEs) and facilitate their business expansion in the region.

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New OFB Bank to cover all Overseas Filipinos

Finance Secretary Carlos Dominguez III has welcomed Malacanang’s approval of the acquisition by the Land Bank of the Philippines of the Philippine Postal Savings Bank (PPSB), which, he said, will pave the way for a financial institution that will cater not only to the country’s migrant workers, but to other overseas-based Filipinos as well.

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Juvenile Council helps Child Offenders through Art

MANILA, Nov 20 (PNA) - The Juvenile Justice Welfare Council (JJWC) kicked off its 6th JJWC Week on Sunday through an on-the-spot poster painting contest emphasizing the importance of promoting restorative justice and giving youth offenders who have gone astray a "second chance" to correct their mistakes.

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Self-Regulation, Digital Literacy, Best Ways to counter Fake News

MANILA, Nov 18 (PNA) - Self-regulation and digital literacy are the best antidotes to fake news, according to advocates of freedom of expression in Southeast Asia.

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Sereno Camp insists on CJ's Right to Counsel

MANILA  Nov 17 (PNA) - The camp of Chief Justice Maria Lourdes Sereno on Friday insisted anew that she has the right to have counsel and to cross-examine the witness during the impeachment proceedings against her before the Congress.

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IPOPHL MOU on Intellectual Property with the Russian Federation

President Rodrigo Roa Duterte and Prime Minister Dmitry Medvedev of Russia witnessed the signing of the Memorandum of Understanding (MOU) between the Intellectual Property Office of the Philippines (IPOPHL) and the Federal Service for Intellectual Property of the Russian Federation (Rospatent). The MOU was signed by IPOPHL Director General Josephine R. Santiago and Rospatent Head Grigory P. Ivlev. The MOU serves as the bilateral framework to improve the administration and effectiveness of the intellectual property systems in the Philippines and the Russian Federation. The signing ceremony was held on 13 November 2017 at the Coconut Palace.

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CJ Sereno need not attend Impeach Hearings

MANILA, Nov 17 (PNA) - Supreme Court Chief Justice Maria Lourdes Sereno does not have to accept the invitation to appear before the House Justice Committee's hearing on the impeachment case against her, Albay Rep. Edcel Lagman said.

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