philippines - Tax & Revenue - News

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

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

INDUSTRY UPDATES

SC, DOJ Buildings declared Safe

MANILA, Apr 24 (PNA) - Work resumed at the Supreme Court (SC) and the Department of Justice (DOJ) on Wednesday, after the magnitude 6.1 earthquake that shook parts of Luzon including Metro Manila last Monday.

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SC asked to allow Poll Watchers to take Photos

MANILA, Apr 24 (PNA) - Various individuals and groups asked the Supreme Court (SC) to lift the ban imposed by the Commission on Elections (Comelec) on digital photo taking by watchers of candidates in the May 13 mid-term polls.

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Makati Court hears Drug Case vs Ex-NBI Exec

MANILA, Apr 24 (PNA) - A prosecution witness positively identified the former acting regional director of the National Bureau of Investigation (NBI) in Central Mindanao as the owner of a 1,000-square meter lot in Virac, Catanduanes, where a shabu laboratory was uncovered three years ago.

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Mobile Application on Labour Market Information Launched

PUTRAJAYA, Apr 23 (Bernama) - Information on Malaysia's labour market is now available at the fingertips with the launch of a new mobile application, Labour Market Information Gateway or LMI Gateway today.

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Former Lawyer Pleads not Guilty to CBT Over Client's House Sale Proceeds

KUALA LUMPUR, Apr 23 (Bernama) - A former lawyer pleaded not guilty at the Sessions Court here today to a charge of criminal breach of trust amounting to RM338,000 which was the proceeds from the sale of a house belonging to his client three years ago.

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Manila Court orders Arrest of Acierto, Seven Others

MANILA, Apr 23 (PNA) - A Manila court has ordered the arrest of former police official Eduardo Acierto and seven others implicated in the smuggling of shabu shipments inside magnetic lifters last year.

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SC orders Inspection of Court Houses in Quake-Affected Areas

MANILA, Apr 23 (PNA) - Chief Justice Lucas Bersamin on Tuesday ordered an inspection of all court houses in areas affected by the magnitude 6.1 earthquake that hit Luzon on Monday afternoon.

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Cybersecurity Challenge should be viewed as an Opportunity - Gobind

CYBERJAYA, Apr 23 (Bernama) - A national innovation ecosystem needs to be developed to transform cybersecurity challenges towards forming new opportunities, ideas and solutions, Communications and Multimedia Minister Gobind Singh Deo said today.

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Malaysia signs ASEAN Trade in Services Agreement

KUALA LUMPUR, Apr 23 (Bernama) - Malaysia has signed the ASEAN Trade in Services Agreement (ATISA) and the Fourth Protocol to Amend the ASEAN Comprehensive Investment Agreement (ACIA).

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Former Lawyer charged with Criminal Breach of Trust

SEREMBAN, Apr 23 (Bernama) - A former lawyer pleaded not guilty in the Sessions Court here today to criminal breach of trust involving RM198,592.50, nine years ago.

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PCC seeks Own Probe on Luzon Power Outages

MANILA, Apr 22 (PNA) - The Philippine Competition Commission (PCC) announced that it will investigate allegations of collusion or abuse of dominance among energy companies that led to the recent series of power outages in Luzon.

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Right to Freedom of Religion guaranteed under Federal Constitution

KOTA BELUD, Apr 21 (Bernama) - The right to freedom of religion of every Malaysian is guaranteed under the Federal Constitution, said Sabah Rural Development Minister Datuk Ewon Benedick.

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Sabah and Sarawak High Court Registrar's Office to move to Kota Kinabalu

SANDAKAN, Apr 21 (Bernama) -- Minister in the Prime Minister’s Department Datuk Liew Vui Keong today confirmed that the Office of the Registrar of the Sabah and Sarawak High Court will be relocated from Kuching to Kota Kinabalu.

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Government awaits Approval from Malay Rulers on New Chief Justice - Mahathir

KUALA LUMPUR, Apri 19 (Bernama) - The government is awaiting approval from the Malay Rulers for the appointment of a new Chief Justice, Prime Minister Tun Dr Mahathir Mohamad said today.

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Double Pay for Workers on Maundy Thursday, Good Friday

MANILA, Apr 17 (PNA) - Workers who will report to work on April 18 and 19 will receive twice their regular daily wages as both days have been declared regular holidays, the Department of Labor and Employment (DOLE) said Wednesday.

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Palace suspends Government Work for Holy Week Exodus

MANILA, Apr 17 (PNA) - Malacañang suspended work on Wednesday (April 17), 12 noon onwards, to allow government employees to travel to their respective regions in time for the observance of Maundy Thursday (April 18) and Good Friday (April 19).

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JBC asks Applicant to comment on Gadon Opposition

MANILA, Apr 16 (PNA) - The Judicial and Bar Council (JBC) has asked an applicant for a vacancy in the Court of Tax Appeals (CTA) to comment on an opposition to her appointment filed last month by senatorial candidate and lawyer, Lorenzo "Larry" Gadon.

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PCC approves Ayala-PHINMA Energy Deal

MANILA, Apr 15 (PNA) - The Philippine Competition Commission (PCC) has approved the acquisition of the majority stake in PHINMA Energy by Ayala Corporation’s power branch, AC Energy.

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