Wednesday, 20 September 2017
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philippines - Tax & Revenue - News

Government adopts Single Platform for Trading Requirements

A high-level committee chaired by the secretary of the Department of Finance (DOF) has agreed to adopt a government-built online platform for traders as the vehicle for the country’s National Single Window (NSW), which aims to facilitate trade, heighten transparency in customs procedures and improve revenue collection.
Date: 18 September 2017; Type: Legal News; Source: Department of Finance

P30B Additional Oil Excise Tax Collections to go to 2018 Social Benefits Programs

The government will implement its biggest social benefits program yet once the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN) is passed by the Congress in full, given that almost P30 billion or 40 percent of incremental revenues from the adjustments in oil excise tax collections estimated at close to P74 billion in 2018 will go to t ...
Date: 11 September 2017; Type: Tax News; Source: Department of Finance

Higher Subsidy for Poor sought under Proposed Tax Reform

MANILA - While the Department of Social Welfare and Development (DSWD) supports the plan under the proposed tax reform measure to provide subsidy to 10 million poorest households who will be affected by the rise in excise taxes on fuel and other products, a monthly subsidy of PHP200 is not enough, its chief said Wednesday.
Date: 07 September 2017; Type: Tax News; Source: Philippine News Agency

House Panel eyes New Revenue-Collecting Agency to replace BOC

MANILA - The House of Representatives’ dangerous drugs committee has recommended the passage of a legislation replacing the Bureau of Customs (BOC) with a new revenue-collecting agency “to avoid corruption and increase revenue collection”.
Date: 01 September 2017; Type: Legal News; Source: Philippine News Agency

Fix Cash Transfer Program before Tax Reform Approval - Gatchalian

Senator Win Gatchalian on Wednesday urged the national government to put into place a concrete plan to implement the cash transfer program meant to shield poor Filipinos from the inflationary effects of the proposed tax reform package, which is still pending legislative approval.
Date: 30 August 2017; Type: Tax News; Source: Senate of The Philippines

No Tax Hike in Makati This Year: Binay

MANILA - Makati Mayor Abby Binay on Tuesday assured residents that there will be no increase in taxes collected by the city government this year.
Date: 29 August 2017; Type: Tax News; Source: Philippine News Agency

Too early to say if 'Watered-down' Tax Bill will be vetoed

MANILA - Senator Juan Edgardo Angara on Tuesday said it is too early to say if the proposed tax reform program will be vetoed if the House version of the package would be “watered-down” by the Senate.
Date: 29 August 2017; Type: Tax News; Source: Philippine News Agency

Tax Reform needed to fully implement ‘Build, Build, Build’ Program

Finance Secretary Carlos Dominguez III said the proposed comprehensive tax reform program of the Duterte administration will serve as the fiscal buffer that would enable the government to pursue its expansionary economic policy anchored on an ambitious “Build, Build, Build” infrastructure program consisting of some 75 major flagship pro ...
Date: 25 August 2017; Type: Tax News; Source: Department of Finance

Proposed Tax Reforms to ensure Funds for Additional Government Programs

MANILA - A Department of Finance (DOF) official remains hopeful that senators will approve the proposed tax reforms in its original form so that government can finance all its programs.
Date: 24 August 2017; Type: Tax News; Source: Philippine News Agency

3 Government Execs convicted for Non-remittance of GSIS Contributions

MANILA - The Sandiganbayan has convicted three government executives for failure to remit premium contributions of their employees to the Government Service Insurance System (GSIS) as required under Republic Act No. 8291, or the revised “Government Service Insurance System Act.”
Date: 23 August 2017; Type: Legal News; Source: Philippine News Agency

Alvarez wants Road Board abolished to prevent road tax misuse

MANILA - House Speaker Pantaleon Alvarez is pushing for the abolition of the Road Board to prevent the misuse of billions of pesos of the road user’s tax.
Date: 22 August 2017; Type: Tax News; Source: Philippine News Agency

Ex-DOH Secretaries, Medical Doctors support DOH Sec Ubial’s Bid to raise Tobacco Tax

Former Department of Health (DOH) Secretaries Esperanza Cabral and Enrique Ona support the appeal of Health Secretary Paulyn Ubial to the Senate to include the increase in tobacco tax as part of the Tax Reform for Acceleration and Inclusion (TRAIN).
Date: 16 August 2017; Type: Tax News; Source: Department of Health

Palace must fix Customs Mess or Government Programs suffer

The Bureau of Customs collects revenues which fund public services that we all enjoy.
Date: 11 August 2017; Type: Legal News; Source: Senate of The Philippines

DOF willing to drop Tax on Sugar-sweetened Beverages

MANILA, Aug. 11 - Finance Secretary Carlos Dominguez III on Friday said he is willing to remove the proposed tax on sugar-sweetened beverages under one condition - that the proposed increase in oil excise tax will be passed in full.
Date: 11 August 2017; Type: Tax News; Source: Philippine News Agency

Imee grilled over Use of Tobacco Tax Funds for Vehicles

The House committee on good government and public accountability resumed Wednesday its inquiry, in aid of legislation, into the use by the Provincial Government of Ilocos Norte (PGIN) of P66.45 million using tobacco excise tax collection funds or the Special Support Fund under Republic Act 7171 to buy motor vehicles, with Governor Imee Marcos answe ...
Date: 09 August 2017; Type: Legal News; Source: House of Representatives

Rise in Oil Prices should not be blamed on Excise Tax alone - DOF

MANILA, Aug. 10 - The Department of Finance (DOF) on Thursday defended anew the inclusion of oil excise tax in the Duterte administration's tax reform program saying it was not the sole factor to blame for the rise in oil prices.
Date: 10 August 2017; Type: Legal News; Source: Philippine News Agency

Stiffer Penalties await Corrupt Officials under New Customs Law - Angara

Senator Sonny Angara has called for the full implementation of the Customs Modernization and Tariff Act (CMTA) which, among others, imposes harsher penalties against delinquent officials and employees of the Bureau of Customs (BOC).
Date: 08 August 2017; Type: Legal News; Source: Senate of The Philippines

First 250K income of Compensation Earners exempted from Tax under TRAIN

MANILA, Aug. 7 - The first PHP250,000 in taxable income of compensation earners will be exempted from the personal income tax (PIT) under the proposed Tax Reform for Acceleration and Inclusion Act (TRAIN), with families receiving a combined monthly income of betweenP13,000 and P40,000 increasing their take-home pay between PHP1,100 and 3,500 per mo ...
Date: 07 August 2017; Type: Tax News; Source: Philippine News Agency

Dominguez lauds BIR for “Decisive Action” vs Mighty

Finance Secretary Carlos Dominguez III commended Wednesday the Bureau of Internal Revenue (BIR) under the leadership of Commissioner Caesar Dulay for its “assiduous investigative work” and “decisive action” against cigarette manufacturer Mighty Corporation, which has led to the largest tax settlement made by a single entity ...
Date: 03 August 2017; Type: Tax News; Source: Department of Finance

Angara calls on Government to be More Generous in giving Tax Perks to OFWs as intended by Balikbayan Box Law

Senator Sonny Angara has called on the Department of Finance (DOF) to give the appropriate tax benefits due to overseas Filipino workers (OFWs) as intended by the provisions on balikbayan boxes under the Customs Modernization and Tariff Act (CMTA).
Date: 01 August 2017; Type: Tax News; Source: Senate of The Philippines

Industry Updates

Senate urged to view Ethics Complaints with Caution

MANILA - Senate Minority Leader Franklin Drilon on Monday urged his colleagues to view complaints filed before the Senate Ethics Committee with extreme caution as the number of complaints continue to pile up.

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ASEAN enhances Coordination to tackle Cyber Threats

SINGAPORE, Sept 18 (Bernama) - ASEAN member states have agreed on the importance of enhancing coordination to ensure that its cybersecurity efforts across various platforms in countering increasingly sophisticated cyber threats are focused, effective and in synergy with one another.

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Peace, Security and Stability take Center Stage in AIPA discussion

MANILA, Philippines - Lawmakers and delegates at the 38th General Assembly of the ASEAN Inter-Parliamentary Assembly (AIPA) on Saturday discussed intensively the issues and challenges confronting the ASEAN region and the international community.

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CDPI proposes Shift to Federal Parliamentary System

The Centrist Democracy Political Institute (CDPI) on Thursday, September 14, said it is proposing the shift to a federal parliamentary system, adding that Congress should soon start deliberating the amendments in the 1987 Constitution that will pave the way for federalization.

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PH strengthens Bilateral Ties with Malaysia

PASAY CITY - At the sidelines of the Philippine (PH) hosting of the 49th ASEAN Economic Ministers’ (AEM) Meeting and Related Meetings on 8 September, Department of Trade and Industry (DTI) Secretary Ramon Lopez convened a bilateral meeting with his Malaysian counterpart, Minister for International Trade and Industry Y.B. Dato’ Sri Mustapa Mohamed.

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ASEAN Secretary-General highlights ASEAN Integration at UN Conference on Trade and Development

14 September 2017 Geneva, Switzerland - H.E. Mr. Le Luong Minh, Secretary-General of the Association of Southeast Asian Nations (ASEAN) served as a panelist at the High Level Dialogue of the 64th Session of Trade and Development Board of the United Nations Conference on Trade and Development on September 12.

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ASEAN Lawmakers to converge for 38th AIPA General Assembly

The 38th ASEAN Inter-Parliamentary Assembly (AIPA) General Assembly officially opens on Saturday at the Makati Shangri-la Hotel, with AIPA President and House Speaker Pantaleon Alvarez and Senate President Aquilino Pimentel III to welcome the delegates, while President Rodrigo Duterte will deliver his keynote address at the closing rites on Tuesday.

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DFA makes Passport Application and Renewal Easier

14 September 2017 - After releasing thousands of appointment slots to the public, the Department of Foreign Affairs is making it easier for passport applicants with further improvements in the appointment system.

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ASEAN to promote Trade with Russia and EAEU

Jakarta (ANTARA News) - ASEAN Economic Ministers agreed to expand trade with Russia and those grouped in the Eurasian Economic Union (EAEU).

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Conclusion of the ASEAN-Hong Kong, China Free Trade Agreement (AHKFTA) and the ASEAN-Hong Kong, China Investment Agreement (AHKIA)

The Economic Ministers of ASEAN and Hong Kong, China (HKC) announced the conclusion of the ASEAN-HKC Free Trade Agreement (AHKFTA) and the ASEANHKC Investment Agreement (AHKIA) at the Second ASEAN Economic Ministers (AEM)-HKC Consultations held on 9 September 2017 in Pasay City, the Philippines.

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Drug Menace, Terrorism, Other Regional Problems up in 38th AIPA

MANILA, Philippines - Lawmakers belonging to the Association of Southeast Asian Nations (ASEAN) will have another opportunity to discuss the drug and terrorism problems when they meet anew at the 38th ASEAN Inter-Parliamentary Assembly (AIPA) General Assembly to be held at the Makati Shangri-la Hotel from September 14 to 20, 2017.

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ASEAN Meet explores Issues related to Tariff Commitments, Rules under ATIGA

KUALA LUMPUR, Sept 12 (Bernama) - The discussions on Association of South-East Asian Nations' (ASEAN) internal economic-related affairs, which were held in the Philippines at the 31th ASEAN Free Trade Agreement Council, explored issues related to tariff commitments and applicable rules under the ASEAN Trade in Goods Agreement (ATIGA).

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